News:
Brokerage
Posted: May 4, 2021
Regal Acquisitions purchases retail component of 2000 Collins Ave. in Miami
Miami, FL Regal Acquisitions, a real estate investment firm headquartered in New York City, has acquired the 35,482 s/f retail component of 2000 Collins Ave. in the South Beach section of Miami Beach.
The Miami Beach site is situated between 20th and 21st Sts. and between Collins Ave. and Liberty Ave. It is located across the street from the Setai hotel.
The property is anchored by CVS. Other tenants include Joe & The Juice, Sweet Liberty Brothers, Orange Blossom Restaurant, Hennah Nail Salon, and the Anthony Liggins Gallery. It is also home to Raspoutine, a nightclub owned by the Bagatelle Group.
The majority of the Regal Acquisitions portfolio is situated in New York City and its surrounding metropolitan area. In addition to the new Miami Beach acquisition, the company’s other properties are located in the greater Philadelphia area and in Las Vegas.
“After concentrating our attention on New York City, Regal Acquisitions has begun to invest in properties in other metropolitan areas,” said Alex Smith, co-managing partner of Regal Acquisitions. “We’re aiming to emulate our formula for success in multiple locales.”
“By our reckoning, the Miami area seems poised for a post-COVID-19 comeback, and that’s what attracted us to this site,” said Joey Cohen, co-managing partner of Regal Acquisitions. “This venue has a strong anchor, combined with a tenant base offering an appealing food-and-beverage mix.”
The South Beach site presently has two retail vacancies. The company did not disclose the purchase price for the retail property.
The Regal Acquisitions team was led by Sean Dainese. The buyer’s attorney was Marc Gurell of Seyfarth Shaw LLP. The seller, New York-based Madison Capital, was represented by Joseph Ash and Isaac Shabot of Kassin Sabagh Realty.
Tags:
Brokerage
MORE FROM Brokerage
Berger and Koicim of Marcus & Millichap sell 17-unit multi-family for $8.8 million
Manhattan, NY Marcus & Millichap negotiated the sale of 207 E. Fourth St., a 17-unit mixed-use multi-family property the East Village. The asset sold for $8.8 million. “This transaction underscores
.jpg)
.gif)
Columns and Thought Leadership
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian
Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
AI comes to public relations, but be cautious, experts say - by Harry Zlokower
Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
Strategic pause - by Shallini Mehra and Chirag Doshi
Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski
The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account
.gif)