Metro 1 broker launches Gridline Properties

After more than a decade with Metro 1 Properties, broker Alfredo Riascos has launched a new commercial real estate firm, Gridline Properties.

Riascos recently set up shop at 1035 North Miami Avenue in Miami, near Overtown and downtown Miami. He hired two agents and is looking to grow to six by the end of the year, Riascos said.

Gridline Properties is specializing on leasing and investment sales with a focus on Wynwood, the Miami River, Little Haiti, Little River, and the MiMo District. It has listing assignments for more than 15 properties in those areas.

Riascos works with developers Avra Jain, Goldman Properties, and David Lahmy and Michal Aviv, who recently completed Upper Buena Vista, a retail and restaurant development. He recently brokered an off-market deal for Jain and David Martin to purchase a site across the street from Miami Northwestern High School in Liberty City.

Riascos joked that he graduated from the “Metro 1 school of real estate” and said he decided to start his own firm now that the focus has shifted more toward development.

Tony Arellano, who worked for Metro 1 for 11 years, left in December and opened a new brokerage with commercial broker Devlin Marinoff a few months later. Arellano, who started as an intern, was executive vice president of Metro 1.