JLL has successfully negotiated the $5.8 million sale of a 7,500-square-foot corner retail space with 5,000 square feet of outdoor space on the ground floor of Miami condo tower 50 Biscayne. Situated at the corner of Biscayne Boulevard and Flagler Street across from Bayfront Park, this location offers convenient access to Brightline Train Station, City’s free Metromover and I-95.
According to JLL’s Summer Florida Retail Report, Miami currently boasts a 97% occupancy rate in its urban core which continues to experience heightened demand for retail spaces from domestic as well as international brands alike. Zach Winkler – JLL Managing Director who represented buyer AXB I LLC led by Rex Gryphon – commented “Rex Gryphon recognized long term potential in owning this valuable corner in Miami and investing into building out the space will yield great results when they open another exciting dining concept here.”
