MIAMI – HFF announced today that it has closed the sale of 1600 Lenox, a 6,792-square-foot, urban retail building in Miami Beach, Florida.
HFF marketed the property on behalf of the seller, Greenstreet Real Estate Partners LP.
1600 Lenox is located at the intersection of 16th Street and Lenox Avenue immediately adjacent to Lincoln Road, an urban, pedestrian-friendly shopping district in Miami Beach. Originally built in 1937, the art-deco property was fully renovated in 2011 and is 100 percent leased to prominent restaurant and bar concepts: Yardbird Southern Table & Bar, The Abbey Brewing Company and SuViche.
The HFF investment sales team representing the seller was led by director Luis Castillo, senior managing director Danny Finkle and senior analyst Rob Saracco.
“The high-profile tenancy of this particular property in addition to its location adjacent to Miami’s dominant ‘high street’ retail corridor, Lincoln Road, attracted a substantial amount of investor interest,” said Castillo.
HFF’s investment sales team secured more than $1.0 billion in sales of retail assets nationally during the first half of 2013. In Florida, HFF closed more than $353 million in retail transactions across all capital markets platforms over the same period.
Greenstreet Real Estate Partners, L.P. is an investment and asset management company operating throughout the United States. HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 21 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information, please visit www.hfflp.com or follow HFF on Twitter at www.twitter.com/hff.