MIAMI—The South Beach redevelopment wave is building momentum with the recent sale of another property on Collins Avenue. CBRE Private Capital Group arranged the sale of a 7,310-square-foot redevelopment property in the heart of the Collins Avenue Shopping District in Miami Beach, FL.
Aria Development Group acquired the two-story, multifamily building at 825 Collins Avenue in partnership with Wexford Capital and 13th Floor Investments. The multifamily property is slated for a 10,000-square-foot flagship retail development.
CBRE represented the seller, FCI Miami Beach One, an entity affiliated with The Federated Companies. This is the second Collins Avenue redevelopment deal CBRE facilitated in 2013, demonstrating this renowned corridor's continued appeal to developers.
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