A Delaware entity with the same address as Rod Feldman’s Tri-Star Equities bought a Wynwood office and retail building for $19 million.
The entity acquired The Print Shop at 2509 North Miami Avenue, according to records. Tony Arellano and Devlin Marinoff represented the seller, a joint venture between Miami-based Link Real Estate, led by CEO Dan Arev, and Jameson Equities, a firm also based in Miami, led by Joe and Richard Serure.
The deal breaks down to roughly $883 per square foot.
New York-based Tri-Star Equities is the asset manager and not the true buyer, Arellano said. He declined to comment on the buyer’s identity. Feldman did not immediately respond to a phone message seeking comment.
In 2017, Link and Jameson paid $5.4 million for the three-story building spanning more than 21,509 square feet, records show. The site was the former home for Pioneer Announcements, a printer of custom invitations and stationery that operated out of the building for more than 60 years.
Pioneer moved shortly after Link and Jameson bought the property. The joint venture renovated the building, built in 1925, for office and retail use, according to a brochure. The Print Shop’s 10 office suites feature open floor plans and exposed ceilings. The office floors are fully leased and the ground-floor retail space is leased to the restaurant Burdo Wynwood, the brochure states. Office tenants include El Car Wash and Plain Sight Properties Capital Management.
Recently, Arellano and Marinoff also brokered the $24 million sale of another Wynwood commercial property at 2215 Northwest First Place to a separate, unrelated Delaware entity. Former Miami Beach Mayor Philip Levine sold the Whale and Star building, three combined warehouses repurposed into an art gallery complex.
In May, another mystery buyer paid $28 million for a Wynwood development site approved for a mixed-use hotel project at 2724 Northwest Second Avenue. Joe Sitt’s New York-based Thor Equities sold the vacant assemblage to a 1031 exchange buyer.