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Design District Property Sells for $5M

MIAMI-Metro 1's Tony Cho tells GlobeSt.com's Jennifer LeClaire an entrepreneurial investor has acquired a string of properties in the district.

By Jennifer LeClaire | Updated on April 24, 2012

MIAMI-Although Dacra is dominating the commercial real estate scene in Miami’s revitalized Design District, one entrepreneurial investor is making a run for a mini-assemblage of property. An undisclosed buyer just snapped up a 5,000-square-foot outdoor restaurant and adjacent 5,500-square foot indoor nightclub for $5.5 million.

Metro 1Commercial represented the buyer in the purchase of 10-28 NE 40th St. This transaction follows several sizable sales acquisitions the buyer inked since the beginning of the year, totaling 60,000 square feet of commercial space valued at more than $15 million.

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