Massa Investment pays $11.5M for retail space at Axis Brickell
The retail space houses Marion Miami and El Tucan
UPDATED, Jan. 11, 4:22 p.m.: A company tied to Massa Investment Group just paid $11.5 million for retail space at Axis Brickell in Miami, records show.
Lmnr Axis Properties LLC, which is managed by Menin Hospitality’s Keith Menin, sold 18,157 square feet of retail space on the first and second floors of the north tower at 1111 Southwest First Avenue.
The property houses Marion Miami and El Tucan, according to a spokesperson. Mr. Hospitality Management Inc. manages the restaurant and lounge.
Massa Investment Group, led by Mathieu Massa, secured a $9.2 million mortgage from IberiaBank to purchase the property, records show.
Keith Menin and his cousin Jared Galbut, who is the nephew of Miami Beach developer Russell Galbut, founded Menin Hospitality in 2009. Menin Hospitality redeveloped a number of South Beach hotels, including the Bentley South Beach, Shelborne South Beach and Gale South Beach.
Axis Brickell was built in 2008 and developed by Brack Capital Real Estate.
An earlier version of this story incorrectly identified the square footage and tenants.