Metro 1 Commercial Completes Sale of 10,500 SF Restaurant/Lounge In Miami Design District

April 25, 2012 - PRLog -- Metro 1 Commercial, South Florida’s first commercial real estate investment and services firm to focus on serving the region’s urban core markets, today announced the sale of 10-28 NE 40th St. The 5,000-square-foot outdoor restaurant and adjacent 5,500-square-foot indoor night club/lounge is well located within Miami’s trendy Design District.  

Metro 1 Commercial’s President and CEO Tony Cho and Commercial Sales Director Tony Arellano represented the seller in the transaction. This deal follows several sizable sales transactions the Company completed since the beginning of the year, totaling 60,000 square feet of commercial space valued at more than $15 million.

“The Design District continues to maintain its position as a top-shelf investor market,” according to Tony Cho, President and CEO of Metro 1.  “While all eyes are on the Design District, investors and high-end fashion brands have quietly turned their attention to adjacent emerging urban core markets including the Biscayne Corridor, Wynwood, and Midtown where we’re seeing lease rates continue to rise.”

The Miami Design District is a unique, 18-square block community located just north of Downtown Miami, and ten minutes from South Beach and the airport. The market is fast becoming the center of the home furnishings and interior design industry in South Florida and has also attracted a number of art galleries, design and architecture firms. Most recently, the area has made headlines with announcements from luxury retailers including Louis Vuitton, Christian Dior, Fendi who are closing stores at the Bal Harbour Shops and opening in the Design District.

For more information on commercial real estate activity and opportunities in the Design District and South Florida’s other urban core neighborhoods, please contact Tony Cho at 305.571.9991.

About Metro 1 Commercial
Metro 1 Commercial is a Miami-based boutique commercial real estate services firm that provides advisory, transaction, management and investment services for office, retail, industrial, retail and hospitality real estate throughout South Florida. Some of the specialty divisions within Metro 1 Commercial include M1 Hospitality, M1 Industrial, M1 Land, M1 Advisory, M1 Management, and M1 Investment Sales. Founded in 2005 by Tony Cho, Metro 1 Commercial has built a reputation for delivering consistent results in a performance-based landscape. Known as one of the most forward-thinking real estate companies, Metro 1 Commercial utilizes cutting edge marketing strategies and advocates for sustainable real estate solutions and smart urban growth. Metro 1 Commercial is a subsidiary of Metro 1 (www.metro1.com). For more information, please visit www.metro1cre.com  or call 305.571.9991.