On the News! Fabio Faerman closes $16.4 Million transaction for 12,400 SF retail center in Miracle Mile

Aerial Picture of the retail property sold by Fabio Faerman in Miracle Mile, Miami
$16.4 million for the entire space. Faerman represented the undisclosed buyer in the transaction.

For Immediate Release (01/14/2019)   

Fabio Faerman CCIM, of FA Commercial Advisors – a commercial division of Fortune International Realty – just closed the deal for the 12,400 Sq. Ft. retail center on the northwest entrance of Miracle Mile for $1,280 per Sq. Ft. adding up to $16.4 million for the entire space. Faerman represented the undisclosed buyer in the transaction.

“The mix between credit tenants, excellent cash flow, central location, and a future redevelopment play pushed us forward to seal the deal on this retail property”

Fabio Faerman – CEO of FA Commercial Advisors

The property was built in 1970 and redeveloped in 2015. The 1.15-acre site is zoned for T6-8 O, which means it’s a mixed-use lot that can be redeveloped up to eight stories. Currently, some of the co-tenants include

  • JP Morgan Chase and Co. 
  • Chipotle
  • Pei Wei
  • Toasted Bagel

Near the property, the city recently completed a $24 million, streetscape reconstruction project that widened sidewalks and added new garden areas and public art


About FA Commercial Advisors

FA Commercial is a specialized team led by Fabio Faerman focusing on Investment sales, landlord & tenant representation, market analysis, site selection, strategy selection, and portfolio overview. Our approach is distinctive, comprehensive, and thorough. We capitalize on opportunities and provide clients with strategies for their real estate properties. Fabio Faerman is the director of the commercial division at Fortune International Realty where he has been the top producer 5 years in a row. Since 2002, Fabio and his team have sold over $1Billion in assets across South Florida.
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