Carlos Mattos buys retail building near Miracle Mile

Tenants at Gables Entrance include JP Morgan Chase and Co., Pei Wei and Chipotle

TRD MIAMI /
Dec.December 13, 2018 05:30 PM

The Gables Entrance and Carlos Mattos

A company tied to Colombian businessman Carlos Mattos just picked up a retail center on the northwest entrance of Miracle Mile for $16.4 million.

The Gables Entrance property at 2209 and 2235-2283 Southwest 37th Avenue in Miami features about 12,400 square feet of leasable space between two, single-story retail buildings. The deal breaks down to about $1,280 per square foot.

Coral Way Entrance LLC, led by Miguel Mouriz, is the seller. Records show the company paid $8.3 million for site in 2006.

The buying entity, Nisa Gables LLC, is led by Mattos’ children Nicolas and Isabelle, as well as attorney Richard G. Toledo who represents a number of the family’s real estate holding companies.

Mattos made his money with Hyundai Colombia Automotriz, a car import and distribution company he founded in his home country. His company Isanic Trading is teaming up with Swire Properties to co-develop a 72,000-square-foot plot of land in Brickell, planned to be an extension of Swire’s Brickell City Centre.

The Gables Entrance property hit the market in 2015 for an undisclosed amount. Michael T. Fay, John K. Crotty and Joshua Ladle of Avison Young had the listing.

Built in 1970, Gables Entrance was redeveloped in 2015. The 1.15-acre site is zoned for T6-8 O, which means the mixed-use site can be redeveloped up to eight stories. Current tenants include JP Morgan Chase and Co., Pei Wei and Chipotle.

Across the street, where Coral Way becomes Miracle Mile, the city recently completed a $24 million, streetscape reconstruction project that widened sidewalks and added new garden areas and public art. Initially slated to be completed in 2016, the delayed project’s heavy construction and road closures temporarily hurt pedestrian traffic, according to business owners.


Related Articles

arrow_forward_ios
2965 West Corporate Lakes Boulevard and Black Creek Group CEO Raj Dhanda (Credit: Google Maps, Blue Vault)

TIAA sells Weston warehouse for $33M

A rendering of CocoWalk (Credit: iStock)

Sweetgreen expanding to Florida with first locations in Miami

5400 Hammock Drive and Timbaland (Credit: Getty Images)

Timbaland drops $8M on Coral Gables mansion

506 Sunset Drive and Justise Winslow (Credit: Getty Images)

Justise Winslow scores Coral Gables home

Daily Digest Miami

Sterling Bay tops off 545wyn in Wynwood, Reich Brothers buys $70 million former Sears distribution center in Ocala

 4601 Le Jeune Road, Jose Boschetti and Maurice Boschetti

Gables Residential sells dev site near Shops at Merrick Park

Office rents rise across SoFla

Here’s why office rents are going up in South Florida

601 Leucadendra Drive (Credit: Zillow)

Manufacturing CEO sells Gables Estates mansion for $12M

arrow_forward_ios
Loading...