An ideal piece of South Beach Commercial Property, a retail space, was recently sold for $18 million, which is more than double what the original buyer had paid for it in back in 2006. The building is located just north of South Pointe Park and west of the Continuum South Beach, so naturally the listing was in high demand given its prime location. The 300,000-square-foot listing was purchased on January 15 by 500 South Pointe Investments, who plan to rent the space out to TD Bank, Danny Jelaca Salon and Dolce Vita Gelato Café. Demand for South Beach Commercial Property in Miami Beach has skyrocketed recently as a result of both the rebounding economy and the growing status of the area as a hub for international business. The fact that this property has more than doubled in value over less than a decade speaks to this increase in demand, and predicts still more prosperity to come in the future for Miami Beach businesses and specifically, South Beach Commercial Property.
South Beach Commercial Property
South Florida has long been known for its glamorous nightlife and endless beaches, however recently the area has emerged as one of the major commercial cities in the US, with companies of every sort moving to Miami Beach and the surrounding towns in order to get in on the action. Large REITS have been snapping up South Beach Commercial Property along world famous Lincoln Road, a very telling sign of the draw South Beach has. Now is the perfect time to invest in South Beach Commercial Property while value is still on the rise, and whether you are interested in commercial or residential listings, RE/MAX Paradise would be happy to help you find the perfect space for all your needs, so feel free to contact an agent today!