Carlos Mattos buys retail building near Miracle Mile

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

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
7431 Fisher Island Drive (Google Maps, Getty)
Fisher Island unit tops Miami-Dade’s weekly condo sales
Fisher Island unit tops Miami-Dade’s weekly condo sales
1 East Broward Boulevard in Fort Lauderdale and Pacific Coast Capital Partners’ co-founders William Lindsay, Aaron Giovara and Donald Kuemmeler (PCCP, Google Maps)
Lease roundup: West Marine moves HQ to Fort Lauderdale
Lease roundup: West Marine moves HQ to Fort Lauderdale
Rishi Kapoor and Alex Witkoff
“We’re at the teenage years of Miami”: Next gen developers see opportunity
“We’re at the teenage years of Miami”: Next gen developers see opportunity
Amir Korangy, Michael Shvo and Jeff Greene
Michael Shvo and Jeff Greene talk distress, opportunities in office
Michael Shvo and Jeff Greene talk distress, opportunities in office
Nicole Martin and Anthony Lopez with 555 Reinante Avenue (Getty, Jorge Chao/ONE Sotheby's International Realty)
“Real Housewives” star, fiancé drop $22M on waterfront Coral Gables estate
“Real Housewives” star, fiancé drop $22M on waterfront Coral Gables estate
Ofizzina building at 1200 Ponce de Leon Boulevard in Coral Gables and 2525 Ponce de Leon Boulevard in Coral Gables and PGIM Real Estate’s Eric Adler (Google Maps, PGIM)
Lease roundup: Knotel and Becker take space in Coral Gables
Lease roundup: Knotel and Becker take space in Coral Gables
Link Logistics’ Luke Petherbridge with rendering of Port Everglades Distribution Center (Link Logistics, CBRE)
Lease roundup: Link Logistics, Gatsby, Lincoln score tenants
Lease roundup: Link Logistics, Gatsby, Lincoln score tenants
550 Arvida Parkway in Coral Gables, John Ruiz and Benjamin Leon Jr. (Google Maps)
UM booster John Ruiz buys another waterfront home in Gables Estates
UM booster John Ruiz buys another waterfront home in Gables Estates
arrow_forward_ios

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

Loading...