July 25, 2017 (Miami, FL) – Fabio Faerman Fortune International Realty/FA Commercial Advisors completed the sale of Brickell House ground floor retail at 1300 Brickell Bay Drive in Miami, Florida, to a European private investor. Brickell House’s high-end retail space was sold for $5.2 million and the sale netted 5% CAP rate for the investor. Mr. Faerman represented both parties in the transaction.
The commercial space totals 4,083 square feet on the ground floor and 1,104 square feet on the mezzanine level. The sale breaks down to about $1000 per square foot. The subject property houses “La Petite Maison” – the famous upscale French-Mediterranean eatery with locations in Dubai and London.
This is the first US location for the London-based French restaurant. Arjun Waney, the restaurateur known for Zuma and most recently Doa, is behind the international concept of “La Petite Maison”
Faerman, FIR Commercial Director and FA Commercial CEO, commented on the latest transaction. “This is a high-quality, class “A” asset with an excellent credit tenant in place – La Petite Maison – in an extremely strong submarket such as Brickell. This income producing property certainly represented a unique opportunity to own a prime retail space in Brickell, a very attractive market to both local and international investors.”
Miami is undoubtedly a global destination; a cultural and social axis where people and cultures mingle and grow, creating a metropolitan platform ideal for cultural and international venues.
Fabio Faerman and his team have consistently contributed to the progress of Brickell and the entire South Florida commercial real estate landscape by acting as a broker/consultant on high-profile transactions. Recently, Mr. Faerman proudly assisted on the closing of notable deals such as Cipriani, a luxury restaurant owned by the sons of famed restaurateur Giuseppe Cipriani, and La Cantina Veinte, a refined Mexican locale in a glitzy space with an outdoor patio and authentic curios in the heart of Brickell.
About Fabio Faerman
CEO of FA Commercial Advisors and the Commercial Division at Fortune International Realty. Also, a CCIM member, Commercial Real Estate Investment Advisor, Broker Associate, and for the last four consecutive years, he has been awarded as the #1 Nationwide Top Broker of Fortune International Realty.