MIAMI—Riviera Plaza, a 45,000-square-foot mixed-use commercial building in Coral Gables, FL, has traded hands. The asset sold for $16.5 million.

13th Floor Investments, a Miami-based real estate investment and management firm, Gadinsky Real Estate, a Miami-based retail development and leasing firm and Echion USA, a retail development firm, acquired the mixed-use asset. Gadinsky Real Estate/Echion will serve as the leasing agent for the mixed-use property.

“Riviera Plaza is an ideal investment, both for its current value proposition and for its long-term growth potential,” says Arnaud Karsenti, managing principal of 13th Floor. Located at 1542 South Dixie Highway with direct frontage on US 1, Riviera Plaza is a urban infill location featuring office, retail, and theater space. Subway, Gables Pizza, Misha's Cupcakes, and the Riviera Plaza Theatre of the Performing Arts are among the existing tenants.