UPDATED, March 8, 2:11 p.m.: Gazit Horizons, the U.S. subsidiary of Tel Aviv-based Gazit Globe Group, paid $20.1 million for a Brickell retail building across the street from its proposed 504-unit apartment tower.
Gazit Horizons bought the fully leased property at 83-97 Southwest Eighth Street, with no immediate plan for redevelopment, according to CEO Jeff Mooallem.
Records show the seller is an affiliate of Miami-based Barlington Group. The real estate investment and development company was founded by Bill Fuller and Martin Pinilla in 2004. It has purchased, built and managed commercial projects valued at more than $250 million, according to Barlington’s website.
Separately from Barlington Group, Fuller is co-owner of Little Havana bar Ball & Chain. Pinilla is not involved in Ball & Chain.
Hector Antunez and Juan Andres Nava of Metro 1 brokered the Brickell retail building sale on behalf of Barlington Group. Fabian Graff, also of Metro 1, represented Gazit Horizons.
Tenants at the property include Toasted Bagelry & Deli, Talkin’ Tacos, CBD American Shaman and Stanzione 87 pizzeria.
The building is across Southwest Eighth Street from Gazit’s proposed Brickell Gateway multifamily project. The company wants to build a 642.8-foot tall tower, or more than 50 stories, on a half-acre lot at 90 Southwest Eighth Street. Gazit paid $29.5 million for the site in 2017.
Both that development site and the retail property are near Metrorail and Metromover stops, as well as a few blocks from Brickell City Centre. The proposed apartment tower site also is along a completed portion of The Underline linear park.
Gazit Globe owns, manages and develops mixed-use real estate in Israel, Brazil and throughout Europe and North America, according to its website. Chaim Katzman is the founder and CEO.