Triarch buys North Miami Beach retail building near planned SoLē Mia

15,000 sf building is leased to Boga Style Home

TRD MIAMI /
May.May 15, 2018 02:30 PM

14652 Biscayne Boulevard (Credit: Capital Commercial Real Estate Group)

Triarch Capital Group just picked up a retail building along Biscayne Boulevard in North Miami Beach for $6.55 million, property records show.

The 15,000-square-foot retail building at 14652 Biscayne Boulevard is leased to Boga Style Home. Online marketing materials show its lease is set to expire in about three years, with four five-year renewal options that would run through 2044.

The seller, Glazer Entreprises LLC, is a Hallandale Beach-based company led by Ofer Glazer and Ron Davidson. Records show the company paid $6 million for the property in 2005. It sits on nearly a 1-acre lot close to Turnberry Associates and LeFrak’s planned $4 billion SoLē Mia mixed-use project.

Just last month the SoLē Mia partners paid $17 million for a Costco site right across from the Boga Style Home furniture store.

Demand for retail in the area is high, according to a recent Marcus & Millichap report. Net absorption in Aventura totaled 317,000 square feet in the first quarter of 2018, the second highest amount after the Miami Airport submarket, which saw net absorption of 491,000 square feet.

Triarch Capital has grown its commercial investment portfolio since being founded in 1996 by Daniel Halberstein, Mario Grosfeld and Jorge Linkewer. The firm controls about 4.5 million square feet of commercial properties, according to its website.

Earlier this year the company bought two of three adjacent office towers in West Palm Beach for $22.5 million. Houston Astros owner Jim Crane is redeveloping the third into a 190-room hotel.


Related Articles

arrow_forward_ios
Jay Jacobson of Eden Multifamily and Lazul Apartments (Credit: Google Maps)

North Miami Beach apartment project nabs $71M refinancing

North Miami Beach apartment project nabs $71M refinancing
Gil Dezer and 3909 Northeast 163rd Street (Credit: Google Maps)

Dezer picks up office building next to Intracoastal Mall

Dezer picks up office building next to Intracoastal Mall
Rendering of the project, Davide Bizzi and Jeff Bercow

North Miami Beach approves Bizzi & Partners’ mixed-use tower

North Miami Beach approves Bizzi & Partners’ mixed-use tower
Alex Zylberglait of Marcus & Millichap and 2020 Northeast 163rd street

Argentine investor nabs North Miami Beach Opportunity Zone property

Argentine investor nabs North Miami Beach Opportunity Zone property
2965 West Corporate Lakes Boulevard and Black Creek Group CEO Raj Dhanda (Credit: Google Maps, Blue Vault)

TIAA sells Weston warehouse for $33M

TIAA sells Weston warehouse for $33M
Daily Digest Miami

Ken Griffin pays nearly $100M for Palm Beach estate, new renders of 830 Brickell office tower: Daily digest

Ken Griffin pays nearly $100M for Palm Beach estate, new renders of 830 Brickell office tower: Daily digest
From left: Jacob Serure, Elliot Shainberg, Deme Mekras, and Aaron Kurlansky with California Club Apartments

Coral Springs investor buys apartment complex near Aventura

Coral Springs investor buys apartment complex near Aventura
State report finds open gas valve fueled building explosion at Plantation shopping center

State report finds open gas valve fueled building explosion at Plantation shopping center

State report finds open gas valve fueled building explosion at Plantation shopping center
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...