Elion Buys Warehouse - Coral Springs

As reported by the Real Deal - https://therealdeal.com/miami/2020/07/02/elion-partners-buys-coral-springs-warehouse-for-7m/

Elion Partners bought a warehouse in Coral Springs for $7.2 million, as South Florida’s industrial market shows no signs of slowing amid the pandemic.

Miami-based Elion Partners purchased the 80,718-square-foot warehouse at 3900 Coral Ridge Drive for $89 per square foot, records show. 3900 Coral Ridge Drive Assoc LLC, tied to Steve Leffler of Rockville, New York, sold the property.

The building was constructed in 1982 on 6 acres and consists of four separate units within a large warehouse. The warehouse is 100 percent air conditioned.

3900 Coral Ridge Drive Assoc LLC had purchased units one and four at the property in 2006 for $3 million. The company bought units two and three for $2.1 million in 2014, records show.

Jose Sasson and Roberto Susi with Axiom Capital Advisors represented Elion Partners, while Tom Robertson and Michael Rauch with Boca Raton-based Rauch Robertson Commercial Realty Advisors represented the seller.

Elion Partners is a real estate investment firm focused on logistics. It manages more than $1.5 billion in real estate assets, according to a press release.

In January, Elion Partners bought three warehouses in Boynton Beach for $25.8 million.

South Florida’s industrial market has been among the few bright spots in real estate during the coronavirus pandemic. Due to rising demand for e-commerce and last-mile distribution, large institutional investors like Blackstone and Prologis are increasingly buying warehouses in South Florida.

Coconut Grove Office Portfolio

As reported by the Real Deal - https://therealdeal.com/miami/2020/01/20/madison-marquette-pays-47m-for-coconut-grove-office-buildings/

A Washington, D.C. commercial real estate firm purchased its first properties in Miami.

Madison Marquette, an investor, developer and operator of mixed-use real estate, paid a combined $47.4 million for the office buildings at 3250 Mary Street and 3225 Aviation Avenue in Coconut Grove, property records show. The deals closed in late December.

Allegra Holding sold both buildings to affiliates of Madison Marquette. Allegra, led by Jaime Baron Rivero, paid $42 million for the properties in 2015.

Bayview Executive Plaza, on Aviation Avenue, is a 57,155-square-foot building. Continental Plaza, on Mary Street, is an 80,380-square-foot building across the street from Park Grove, Terra and Related’s luxury condo project.

MetLife provided a $17.61 million loan for Bayview Executive Plaza, and a $25.02 million loan for Continental Plaza, records show.

Madison Marquette provides management services and leasing to a handful of properties in Florida, but this is its first purchase in Miami-Dade County, according to its website. It has 330 assets in 20 states in its portfolio.

Roberto Susi and Jose Sasson of Axiom Capital Advisors represented Madison Marquette.

Nearby development also includes Regatta Harbour, a mixed-use project at 2285 Pan American Drive. Anatomy, a high-end gym, plans to open at the retail and marina project this year.

CocoWalk is also undergoing a massive transformation with new retail and office space.

5430 Northwest 33rd Avenue, Ft. Lauderdale

As reported by the Real Deal - https://therealdeal.com/miami/2020/01/16/liberty-property-trust-sells-fort-lauderdale-industrial-buildings/

Liberty Property Trust sold an industrial property in Fort Lauderdale for $6.3 million, amid continuing demand in South Florida for warehouse space.

Liberty, soon to be acquired by Prologis, sold the two-building industrial/office complex, Fort Lauderdale Commerce Center, at 5410-5430 Northwest 33rd Avenue. GDF Properties, a Puerto Rico-based investment firm, bought the property, said Roberto Susi, principal of Axiom Capital Advisors.

Jonathan Salk of Axiom Capital Advisors represented the seller in the off-market deal. Reshma Parvani of Parvani Commercial Group represented the buyer.

The buildings total 63,266 square feet on 5.24 acres, records show.

Liberty paid $4.75 million for the property in 1997. The buildings were built in 1984, according to records. Currently, only two tenants occupy the property, a forensic engineering firm and a digital printing company. A tenant that had occupied 42,000 square feet recently left, Susi said.

“The buyer thought it was a good time to purchase this property due to the increasing rental rates in this market and the ability to reposition this big vacancy,” he said.

In October, Prologis agreed to acquire Liberty Property Trust in an all-stock deal valued at $12.6 billion, including the assumption of debt. The deal is expected to close in the first quarter. At the same time, Prologis said it plans to dispose of $3.5 billion of assets, including $2.8 billion of logistics properties and $700 million of office properties.

The South Florida industrial market has seen growing demand, due in part to the growth of e-commerce.

Warehouse asking rents in Broward County have continued to rise even as an influx of new industrial product is coming to the market. In the third quarter of last year, average industrial asking rents rose to $8.89 per square foot from $8.16 per square foot in the same period of 2018, according to Colliers International South Florida.

8101 Astronaut Blvd, Cape Canaveral, Florida, 32920

October 18, 2019 - Roberto Susi represented Sunshine Real Estate Holdings, LLLP an affiliate of Sunshine Gasoline in the off market purchase of the gas station located at 8101 Astronaut Blvd, Cape Canaveral, Florida. The price for the property was $725,000.

2970 N Military Trail, West Palm Beach

August 29, 2019 - Roberto Susi represented Racetrac Petroleum Inc in the off market purchase of the property located at 2970 N Military Trail, West Palm Beach. The Buyer paid $3,400,000 for the property. The Seller was First Coast Energy LLP.

18299 NW 27 AVE, Miami Gardens, FL

July 11, 2019 - Roberto Susi represented MMG MIAMI GARDENS TWO LLC, an affiliate of MMG Equity Partners in the off market purchase of a closed Payless Shoe Store. The purchase price was $1,025,000. This property is located on the intersection of NW 27th Ave and Miami Gardens Drive. The Seller was the Linda M Parsons Trust.

666 71st St, Miami Beach, FL

As reported on the Real Deal (https://therealdeal.com/miami/2019/07/10/investors-buy-north-beach-assemblage-with-plans-to-redevelop/)

Investors Jefferson Brackin and Michael Bird paid $5.9 million for a commercial assemblage in North Beach, with plans to redevelop the property.

Brackin and Bird’s Nobe Creek LLC bought the three properties at 666 71st Street, 6994 Carlyle Avenue and 6980 Carlyle Avenue in Miami Beach, said Jose Sasson of Axiom Capital Advisors.

Sasson represented the seller, North Beach Capital LLC, an affiliate of Aventura-based Triarch Capital Group, led by Daniel Halberstein, Mario Grosfeld and Jorge Linkewer. The off-market deal closed on Friday, Sasson said. It has not yet cleared records.

The properties include two vacant buildings: one of nearly 8,000 square feet, built in 1967; and the other of about 1,400 square feet, built in 1935; as well as parking lots, records show. In all, the land totals 20,415 square feet. The sale price equated to $289 per square foot for the land.

The seller had paid $2.6 million for the properties in 2014, according to records.

Sasson said the site has significant redevelopment potential.

The partners are considering an adaptive reuse project of the currently vacant site, while evaluating redevelopment opportunities, Bird said via email.

North Beach is seeing increased interest from investors and developers, amid voters’ and the city of Miami Beach’s approval of upzoning.

Property owners are now able to build twice as much as they were previously allowed in the North Beach Town Center District, an area that includes the properties Brackin and Bird purchased. The district mainly consists of retail plazas, vacant lots and apartment buildings between Indian Creek Drive, Dickens Avenue, 72nd Street, Collins Avenue and 69th Street.

Among new developments planned is Silvia Coltrane and her partners’ mixed-use hotel and condo project at 72nd Street and Collins Avenue.

Last year, Brackin and Bird founded Fwd Group, an investment, development and management group that includes other partners. In May, Fwd Group paid $5.35 million for a building at 740 Alton Road in South Beach, where it is planning an adaptive reuse project.

Chase branch at 6916 Collins Avenue

As reported on the Real Deal (https://therealdeal.com/miami/2019/06/28/if-you-cant-beat-em-join-em-jp-morgan-buys-north-beach-branch/)

If you can’t beat ‘em, join ‘em?

Amid a surge of redevelopment in North Beach, J.P. Morgan bought its Chase bank branch to ensure its ongoing presence, The Real Deal has learned.

J.P. Morgan paid $8.45 million in an off-market deal for the branch building at 6916 Collins Avenue, said Roberto Susi, principal of Axiom Capital Advisors, who represented the seller, along with Axiom’s Jose Sasson.

The seller is Bayrock Investment Co., based in Charlotte, North Carolina.

The 5,756-square-foot branch and parking are on a 37,500-square-foot lot. The building, built in 2013, sold for $1,468 per square foot and the land for $225 per square foot.

Susi said J.P. Morgan wanted to buy the leased branch to keep it for its own use so the property would not end up in the hands of a developer. The branch, on the west side of Collins Avenue, is near a new Publix and across from oceanfront condo developments L’Atelier Residences and the Carillon Hotel and Residences.

“It’s an up-and-coming market that is experiencing tremendous growth from a development standpoint,” Susi said.

North Beach is seeing increased interest from developers, amid voters’ and the city of Miami Beach’s approval of upzoning. Property owners are now able to build twice as much as they were previously allowed in the North Beach Town Center District, which mainly consists of retail plazas, vacant lots and apartment buildings between Indian Creek Drive, Dickens Avenue, 72nd Street, Collins Avenue and 69th Street.

Among the developments planned is Silvia Coltrane and her partners’ mixed-use hotel and condo project at 72nd Street and Collins Avenue.

Earlier this week, the Miami Beach City Commission gave the green light to a land deal that will allow developers Alex Blavatnik and Sandor Scher to build 110 hotel rooms on Ocean Terrace in North Beach, in exchange for a $15 million park near the oceanfront.

1515 Southeast 17th Street, Ft. Lauderdale, FL - The Quay

April 5, 2019 -- Mast Capital paid $43 million for The Quay, a waterfront mixed-use shopping center in Fort Lauderdale, marking the Miami developer’s first big investment in Fort Lauderdale. The company purchased the 73,000-square-foot shopping center at 1515 Southeast 17th Street for $589 per square foot, according to a press release.

The property is currently 100 percent leased, with tenants including Boatyard restaurant, United States Postal Services, and Chipotle. The 6.97-acre site also includes a marina and a two-story office building. The property is close to Pier Sixty-Six Hotel & Marina, Port Everglades and the Greater Fort Lauderdale/Broward County Convention Center.

Mast Capital bought the property from Hudson Capital Group and financed it with a loan from CIT bank, according to the release.

Roberto Susi of Axiom Capital Advisors brokered the deal. Records show Hudson Capital bought the property in 2007 for $34.8 million. The shopping center was built in 1988. The deal shows the growing demand for commercial properties in Fort Lauderdale. Many developers are moving to the Broward County city due to the strong job market and growing population. Land costs in Fort Lauderdale are also cheaper than in Miami.

Led by Camilo Mast Jr., Mast Capital is also developing the Miami River Walk, a mixed-use project with 688 residential units. The firm also owns the Conrad Hotel Brickell, and 3811 Shipping Avenue, which will have 254 apartments. Since 2010, Mast has completed 17 deals with total projected capitalization of about $1 billion. In August, Mast Capital sold a historic French chateau at 1500 Brickell Avenue for $6.25 million, where it planned to bring an Italian restaurant

Link to the Real Deal Article: https://therealdeal.com/miami/2019/04/05/mast-capital-buys-the-quay-shopping-center-in-fort-lauderdale/

307 E Atlantic Ave, Delray Beach, FL

January 5, 2019 - In a submarket characterized by brisk retail demand, the former Luigi's Coal Oven Pizza Restaurant at 307 E Atlantic Ave in Delray Beach, FL has sold to Rosebud 307, LLC, an affiliate of Menin Development, for $5,500,000. The property is situated in one of South Florida's busiest sub-markets; The property is uniquely positioned to capture the ever growing customer base in Delray Beach. The transaction closed on December 24, 2018. Roberto Susi of Axiom Capital Advisors represented the Buyer.

As seen on the Real Deal Miami - https://therealdeal.com/miami/2018/12/24/menin-development-pays-5-5m-for-retail-center-in-delray-beach/

726 S Federal Hwy, Stuart, FL

January 17, 2019 -- Axiom Capital Advisors, LLC has sold the Wendy's at 726 S Federal Hwy, Stuart, FL in partnership with Patrick Nutt from the Calkain Companies. The co-listing opportunity allowed us to procure several offers from a wide range of investors. The property was sold for $1,770,000

4150 Okeechobee Rd, Ft. Pierce FL

January 8, 2019 - Jose Sasson, a new Axiom Capital Advisors team member represented the Seller, Green Capital, LLC in the transaction, the Buyer 4150 Plaza LLC was represented by NAI Southcoast. The Seller is an affiliate of the Triarch Capital Group based in Aventura, FL. The property was sold on December 31, 2018 for $750,000.

Ft. Pierce and nearby cities have recently experienced residential growth, allowing for investors to look for retail assets that can service the population.

Edd Helms Industrial Park

As soon on the Real Deal Miami - https://therealdeal.com/miami/2018/12/21/triarch-capital-expands-industrial-portfolio-with-purchase-in-north-miami-dade/

December 21, 2018 -- A Triarch Capital Group affiliate acquired a warehouse in north Miami-Dade County in a off-market deal, adding to its growing industrial portfolio.

Aventura-based Triarch’s WH 95 Capital LLC paid $5.85 million for the 61,462-square-foot industrial building. The price for the property, at 17850 State Road 9, penciled out to $95 per square foot.

The seller is National Industrial Park, linked to Walston E Helms Jr.

Records show it was last purchased for $2.8 million in 1982. The warehouse was built in 1961.

Axiom Capital Advisors’ principal Roberto Susi represented the buyer. Elad Barokas of Keller Williams Elite Properties represented the seller.

The 133,290-square-foot property faces I-95 and is next to the former King of Diamonds site. The strip club — once a famous hangout for hip-hop stars, NFL athletes and boxing champion Floyd Mayweather Jr. — was evicted last month from its converted warehouse.

Susi said the Triarch industrial property is fully leased to several tenants, including Ital Doors. He said the buyer will keep operating it as an income-producing property.

The deal marks Triarch Capital Group’s third purchase of industrial properties this year that were brokered by Susi and Barokas. In January, a Triarch affiliate paid $2 million for 1890 Northeast 150th Street in North Miami, and $1.6 million for 1835 Northeast 144th Street, also in North Miami.

Also in January, Triarch Capital bought two of three adjacent office towers in West Palm Beach for $22.5 million.

In May, it purchased a retail building at 14652 Biscayne Boulevard in North Miami Beach. That 15,000-square-foot retail building is leased to Boga Style Home.

500 E Oakland Park Blvd, Wilton Manors, FL

September 14, 2018 -- Aventura based Sub Capital, LLC an affiliate of Axiom Capital Advisors purchased the 1,950 SF Free Standing Drive Thru restaurant at 500 E Oakland Park Blvd, Wilton Manors, FL.

The Seller was represented by Carolyn Isacovici from the Keyes Company, the Buyer was represented by Jason Yukins from Marcus & Millichap. The sale closed on September, 13, 2018. The property is located on the busy and well-traveled E Oakland Park Blvd, one of three main access points from I-95 to N Federal Hwy in Ft. Lauderdale. The building, sits on a 18,000 SF corner lot and features great visibility with 100 feet of frontage.

"The Free Standing Drive Thru restaurant is located in the heart of Wilton Manors, an established and expanding residential and retail market. According to FDOT estimates, the traffic count is approximately 50,000 cars. This purchase presents a great opportunity for us to capitalize on affordable rents as more regional and national tenants look for prime locations with prominent visibility." said Roberto Susi, Partner for Sub Capital, LLC.

Sub Capital, LLC affiliate Axiom Capital Advisors, is a full service commercial real estate brokerage providing advisory services including brokerage, landlord and tenant representation, as well as acquisition and consulting. Our focus is clearly centered on maximizing the value of a real estate asset. Whether serving in the capacity of broker, advisor, manager, owner or developer, our over forty five years of combined experience help leverage and combine knowledge, expertise and relationships for the benefit of our clients and projects. We have carved a niche in creating "off-market" opportunities which have proven invaluable in recent cycles.

2608 N Ocean Blvd, Pompano Beach, FL

September 5, 2018 -- Aventura based Axiom Capital Advisors, has brokered an off market sale of the 10,000 SF strip center at 2608 N Ocean Blvd, Pompano Beach, Florida.

Axiom’s Broker Roberto Susi represented the seller, Gro Link Capital, LLC, in the transaction. The buyer was Pompano Beach Investments, LLC an affiliate of Investments Limited. The sale closed on August, 30, 2018. The property is located on the busy and well-traveled N Ocean Blvd in Pompano Beach The building, sits on a 27,000 SF corner lot and features great visibility to the strong traffic flow on Ocean Blvd.

Axiom Capital Advisors, is a full service commercial real estate brokerage providing advisory services including brokerage, landlord and tenant representation, as well as acquisition and consulting. Our focus is clearly centered on maximizing the value of a real estate asset. Whether serving in the capacity of broker, advisor, manager, owner or developer, our over forty five years of combined experience help leverage and combine knowledge, expertise and relationships for the benefit of our clients and projects. We have carved a niche in creating "off-market" opportunities which have proven invaluable in recent cycles.

1190 E Commercial Blvd, Oakland Park, FL

June 29, 2018 -- Aventura based Axiom Capital Advisors, has brokered the sale of the Blue Willie's BBQ Restaurant located at 1190 E Commercial Blvd, Oakland Park, FL. The sale closed on June 26, 2018.

Axiom’s Broker Roberto Susi represented the buyer, GDF Properties, LLC in the purchase. The seller was represented by Daniel Otten of Friedman Integrated Real Estate Solutions.

"The buyer benefits from acquiring a visible free standing building on a 24,750 SF corner lot with nearby ingress and egress from the east and westbound traffic. In a tight market for attractive opportunities, the Buyer was able to secure this asset with income and the potential for redevelopment. " said Roberto Susi, Broker for Axiom Capital Advisors.

Axiom Capital Advisors, is a full service commercial real estate brokerage providing advisory services including brokerage, landlord and tenant representation, as well as acquisition and consulting. Our focus is clearly centered on maximizing the value of a real estate asset. Whether serving in the capacity of broker, advisor, manager, owner or developer, our over forty five years of combined experience help leverage and combine knowledge, expertise and relationships for the benefit of our clients and projects. We have carved a niche in creating "off-market" opportunities which have proven invaluable in recent cycles.

Checkers Drive-In, Pinellas Park, FL

June 25, 2018 -- Axiom Capital Advisors, LLC has sold the Checkers Drive-In, Pinellas Park, FL in partnership with Patrick Nutt from the Calkain Companies. The co-listing opportunity allowed us to procure 8 offers within two weeks of the initial marketing launch. The property sold for $1,422,000.

1835 NE 135th St & 1890 NE 150th St, North Miami, FL

January 25, 2016 -- Aventura based Axiom Capital Advisors, has brokered the sale of two off market warehouse in North Miami, FL.

Axiom’s Broker Roberto Susi represented the buyer, Groupforce LLC, in both transactions. Groupforce is headed by Stefan Grosfeld and Joel Linkewer. The sellers of both transactions were represented by Elad Barokas of KW Elite Properties.

1835 NE 144th St, North Miami, FL is a 22,287 SF warehouse occupied by a single tenant. The buyer closed on this purchase within 12 days of signing the PSA.

1890 NE 150th St, North Miami, FL is a 15,000 SF warehouse that sits on a 30,000 SF lot, this property is also occupied by a single tenant. The buyer closed on this purchased within 15 days of signing the PSA.

"In a tight North Miami warehouse market, the buyer was able to secure two great properties that will inevitably see increased value due to the construction of the proposed Sole Mia project. The properties are centrally located with nearby access to the beach and the I-95” " said Roberto Susi, Broker for Axiom Capital Advisors.

Axiom Capital Advisors, is a full service commercial real estate brokerage providing advisory services including brokerage, landlord and tenant representation, as well as acquisition and consulting. Our focus is clearly centered on maximizing the value of a real estate asset. Whether serving in the capacity of broker, advisor, manager, owner or developer, our over forty five years of combined experience help leverage and combine knowledge, expertise and relationships for the benefit of our clients and projects. We have carved a niche in creating "off-market" opportunities which have proven invaluable in recent cycles.

3300 NW 87th Ave, Doral, FL

January 5, 2018 -- In a submarket characterized by brisk retail demand, the former Tony Roma’s Restaurant at 3300 NW 87th Ave in Doral, FL has sold to WAGAS V DORAL, LLC, an affiliate of Unicorp, for $6,400,000. Axiom Capital Advisors, LLC Principal Roberto Susi represented the buyer. and Marcus & Millichap Senior Investment Associate Debra Franklin represented the seller, ROMACORP, INC. The sale closed on January 4, 2018 Comprised of a 6,181 SF single-story building on a 1.56 acre site, the property is situated in one of Miami’s busiest sub-markets, there is 47,000 cars driving by on NW 87th Ave. The property is uniquely positioned to capture the ever growing customer base in Doral.

The current tenant Tony Roma’s has closed its doors. The Buyer has plans to redevelop this property in the near future.

“This property fit in with the strategic vision for the buyer, as they look to procure prominent retail corners across the state of Florida.” notes Axiom Capital Advisors Roberto Susi, who represented the Buyer.

“With the continuous rise in real estate values in Doral, the seller recognized an opportunity to capture a substantial amount of equity and allow for redevelopment of the property." notes Marcus & Millichap's Debra Franklin, who represented the Seller.

Retail vacancy and net absorption in Doral has mirrored the trends countywide. The pent up demand in retail space during 2017 allowed the sub-market to have a very low vacancy rate. About Axiom Capital Advisor, LLC

Axiom Capital Advisors, is a full service commercial real estate brokerage providing advisory services including brokerage, landlord and tenant representation, as well as acquisition and consulting. Our focus is clearly centered on maximizing the value of a real estate asset. Whether serving in the capacity of broker, advisor, manager, owner or developer, our over forty five years of combined experience help leverage and combine knowledge, expertise and relationships for the benefit of our clients and projects. We have carved a niche in creating "off-market" opportunities which have proven invaluable in recent cycles.

Sale of 504 NE 3rd St - Hallandale, FL

July 25, 2017 -- Aventura based Axiom Capital Advisors, has brokered an off market sale of the 4,173 SF multi-family building at 504 NE 3rd St, Hallandale Beach, Florida facing Art Square.

Axiom’s Broker Roberto Susi represented the buyer, Hallandale Plaza, LLC, in the transaction. The seller was 504 Hallandale, LLC. The sale closed on July, 24, 2017. The property is located just off of the busy N Federal Hwy north of Hallandale Beach Blvd. The building, sits on a 10,000 SF lot

"The multi-family building is conveniently located accross the street from a new mixed used development in Hallandale Beach Art square. The property is near an established and expanding residential market." said Roberto Susi, Broker for Axiom Capital Advisors. This is the Buyers fourth purchase in this market in he last year.

Axiom Capital Advisors, is a full service commercial real estate brokerage providing advisory services including brokerage, landlord and tenant representation, as well as acquisition and consulting. Our focus is clearly centered on maximizing the value of a real estate asset. Whether serving in the capacity of broker, advisor, manager, owner or developer, our over forty five years of combined experience help leverage and combine knowledge, expertise and relationships for the benefit of our clients and projects. We have carved a niche in creating "off-market" opportunities which have proven invaluable in recent cycles.