
JLL and BGRS Arrange Miami Retail Sale to Hospitality Group
JLL has 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 the Miami condo tower 50 Biscayne.
The space is on the corner of Biscayne Boulevard and Flagler Street, across from Bayfront Park. It boasts convenient access to the Brightline Train Station, City of Miami’s free Metromover, and I-95.
“Despite limited availability, Miami’s urban core continues to experience heightened demand for retail space from both domestic and international brands,” said Zach Winkler, JLL managing director who represented the buyer AXB I LLC, led by Rex Gryphon. “Rex Gryphon recognized the long-term potential of owning this valuable corner in Miami and investing to build out the space, and open another exciting dining concept in the heart of the city yield great results.” The seller, TTN Holdings LLC, was represented by Arnaldo Cantero III, managing member of BGRS Commercial Real Estate Advisory