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Four-Building Office Complex Trades In Off-Market Deal

Julian Huzenman, Vice President of Leasing & Brokerage with FIP Commercial Realty, arranged the sale of a four-building office complex located at 1515 NW 167th Street in Miami Gardens, Florida.

KEI Properties, led by Kenneth Israel, paid $9.1 million to 1515 NW 167 Street LLC, an entity tied to Niznik Behavioral Health, for the Plaza Executive Centre North, a 51,000-square-foot, single-story asset. The deal represents a sale-leaseback with additional office tenants. The acquisition also represents a value-add with future redevelopment opportunities.

Huzenman represented both the buyer and seller in the transaction. The deal closed September 24.

“This was a unique opportunity for the buyer, who has other assets in the area, to acquire a single-story office park with a great parking ratio, which is a rare asset,” commented Huzenman.

KEI Properties focuses on office and warehouse real estate in Fort Lauderdale, North Miami, Aventura, Coral Springs, Pompano, Hollywood and Hallandale Beach, according to its website, and owns other assets within close proximity of Plaza Executive Centre North including a 66,439-square-foot warehouse/office-flex/showroom property at 900-1000 Park Centre Blvd,

Built in 1972, the property is within the Golden Glades area with close proximity to the Golden Glades Interchange and 15 minutes from Aventura, Sunny Isles, Miami Beach, Golden Beach, Hollywood and Hallandale. It features gated parking with a 5/1000 parking ratio.

 

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Two Fast Casual Restaurants Ink Lease Deals For New Locations In Miami, Both Seek To Open Additional South Florida Locations

Carrot Express will be opening a new 2,083-square-foot location on Brickell Avenue at Sabadell Financial Center, located at 1111 Brickell Avenue in Miami, Florida, and Chicken Kitchen will be opening a new 1,441-square-foot location at 18515 NE 18th Avenue in North Miami Beach, Florida.

Both lease deals were negotiated by Brandee Goldstein, Tenant/Landlord Representative with FIP Commercial Realty.

Carrot Express, a fast casual health food restaurant, was founded over 30 years ago when Mario Laufer decided to venture into the restaurant business, focusing on what he was really passionate about: cooking simple and healthy dishes but with a lot of taste. According to its website, after a few hit and misses, Carrot Express was born on the inside of a gas station on Alton Road in South Beach. The restaurant offers a creative and extensive menu based around natural, high quality ingredients combined with a fun, comfortable and relaxed environment. The company now has 7 locations and is looking to double the number of locations in the next 6 months. Goldstein represented Carrot Express in the deal. The landlord, BRICKELL OWNER LLC, was represented by Colliers International South Florida.

Chicken Kitchen is a grilled chicken restaurant chain with the tagline “your healthy addiction.” The franchise features America’s favorite poultry served in healthy, delicious dishes. The menu features salads, pita pocket sandwiches, wrapitos, and rotisserie chicken, plus a host of side items ranging from rice, beans, coleslaw, potatoes, corn, and hummus. In addition to Chicken Kitchen’s on-site sales, the restaurant also does a good portion of its business catering events like business meetings, parties, banquets, and holiday gatherings. The recent deals mark 19 locations in South Florida, with plans to open additional locations. Goldstein represented both the tenant and the landlord in the lease deal.

Goldstein is one of FIP Commercial’s top commercial retail leasing and residential real estate agents. Born and raised on Miami Beach, Brandee is a true native of South Florida and is well educated as she has an undergraduate degree from the University of Michigan in Ann Arbor and a Master’s Degree from Nova Southeastern University in Davie.

Brandee was born with a true real estate spoon in her mouth.  Her father is a famous architect on Miami Beach, having just built the tallest tower south of New York on Brickell, Panorama.  Her mother and many relatives have been selling homes and commercial properties for over 30 years. Brandee’s clients include State Farm, Asian Foot Massage, Stop N Play, ADT, Alarm.com in addition to Carrot Express and Chicken Kitchen.

“Both Carrot Express and Chicken Kitchen are continuing to expand without fear,” commented Goldstein.  “Strong, reputable and established restaurants that can offer outdoor seating, take-out and delivery service, as well as safe indoor seating will continue to do well. We are seeing more and more fast casuals replacing the more traditional retail tenants as a trend.

“Landlords like to have strong tenants to drive more foot traffic to their plazas and more careful in selecting the right tenant,” Goldstein continued. “In both these transactions, the Landlord will have two very strong operators with a big following.”

 

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