Press Release brought to you by CRE-sources
Brooklyn-Based Forte Capital Acquires Miami Asset
New Yorkers aren’t just flying south for the winter – they’re staying.
Brooklyn-based Forte Capital acquired a 22,462 square foot building located at 48 NW 25th Street.
Metro 1 President and CEO Tony Cho represented the seller and Jason Weisman, an agent with Metro 1 represented the buyer in the sales transaction.
Forte plans to redevelop the property into showroom/retail/restaurant use. The deal closed Nov. 20.
“This transaction represents a rapidly increasing presence of high profile investors from New York and beyond who believe in the emerging neighborhood of Wynwood as a future hub for retail, office, and residential use,” said Weisman.
In a deal which closed October 10, SBT WYNWOOD TOO, LLC purchased a seven-parcel portfolio of 54,968 square feet along with 104,750 square feet of land for $8,500,000.
The portfolio is located around NW 29th Street and NW 3rd Avenue.
Metro 1 President and CEO Tony Cho represented both seller and buyer in that Wynwood sales transaction.
"This is a very unique time for investors. Wynwood is rising on the interest scale and undergoing a transformation into one of the most interesting destinations in South Florida," stated Cho.
Having completed more than $300 million in sales transactions, 200+ deals and more than 600,000 square feet in the last 5 years, Metro 1 is committed to Wynwood, along with Miami’s other up-and-coming Urban Core neighborhoods including the Design District, Downtown Miami, Edgewater, the Upper Eastside, and Sunset Harbour.
# # #
Metro 1 Commercial is a Miami-based boutique commercial real estate services firm that provides advisory, transaction, management and investment services for office, industrial, land, retail, and hospitality real estate throughout South Florida. Some of the specialty divisions within Metro 1 Commercial include M1 Hospitality, M1 Industrial, M1 Land, M1 Advisory, M1 Management, and M1 Investment Sales. Founded in 2005 by Tony Cho, Metro 1 Commercial has built a reputation for delivering consistent results in a performance-based landscape. Known as one of the most forward-thinking real estate companies, Metro 1 Commercial utilizes cutting edge marketing strategies and advocates for sustainable real estate solutions and smart urban growth. Metro 1 Commercial is a subsidiary of Metro 1. For more information, please visit www.metro1cre.com or call 305.571.9991.
11/27/2013 - 16:15