Casal Group, led by team members Ernesto Casal, Luis Marquez, and Will Falero, represented the Seller, MCM Construction Group, in the sale of two lots totaling 4 acres located at 1695 NW 110th Avenue in Miami, FL for $4.43 million.
The Buyer, Dolphin Professional Centre, LLC, an entity managed by J. Brett Houston, intends to construct Dolphin Commerce Centre, an 85,000-sqwuare-foot office and retail condo building at the site.
“There are almost no retail condos in Miami, so they should do well,” commented Houston. He added, “Office fundamentals are very strong in the Airport West/Doral submarket with very little supply coming on line, so investors will like these small office condos.”
The three-story project will comprise 10 retail units totaling 26,540 square feet and 54,940 square feet of office condo space on the second and third floors.