CBRE SELLS SINGLE-TENANT PROPERTY OCCUPIED BY DORAL ALE HOUSE
Doral, FL – November 4, 2014 – (RealEstateRama) — CBRE arranged the sale of a single-tenant retail property leased to Doral Ale House. The buyer, Biscayne Ale, LLC, purchased the property at 3271 NW 87th Avenue in Doral, Florida, for $5,870,000 from DAH Property, LLC, a Florida-based private investor. CBRE’s Todd Weintraub represented the seller and the buyer in the transaction.
The sale included a 1.31-acre parcel subject to a ground lease with five years remaining plus options. The 9,767-square-foot casual dining restaurant was constructed in 1999 on the east side of NW 87th Avenue, a high-traffic commercial corridor west of the Miami International Airport.
“The Doral Ale House restaurant is prominently located just south of Codina Partners’ Downtown Doral project, a massive 120-acre mixed use development with more than 2,800 upscale living units and over one million square feet of office and retail,” said Todd Weintraub, Vice President with CBRE. “Doral’s daytime population swells by more than 150,000 which creates an exceptionally strong demand for restaurants and retailers in the market.”
Within the single-tenant retail sector, Todd Weintraub has recently completed assignments including the sale of Chase Bank in Coral Gables, FL; PNC Bank in Pembroke Pines, FL; IHOP in Margate, FL; BB&T Bank in Orlando, FL; SunTrust Bank in Boynton Beach, FL; and LA Fitness in Stuart, FL. Based in Miami, Weintraub is part of CBRE’s Investment Properties group focusing on the disposition of single-tenant net-leased properties.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
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