Greenstreet Partners Offload MiMo Showroom for $7M
By Julia Echikson July 7, 2023 1:18 pm
reprints
Greenstreet Partners has sold a modern low-rise retail building housing two furniture showrooms along Biscayne Boulevard in Miami’s MiMo district for $6.5 million, property records show.
The single-story property — located at 6101 Biscayne Boulevard, adjacent to Northeast 61st Street — spans 13,739 square feet on a half-acre site in the MiMo Biscayne Boulevard Historic District. The Coral Gables-based investor paid $5.8 million for the building in 2014 just a year after its completion.
The property is now fully occupied — tenants include furniture showrooms Longhi and Loft 6101 — though some triple-net leases are set to expire in 2025 and 2027, according to Tony Arellano and Devlin Marinoff of Dwntwn Realty Advisors, who represented both the buyers and sellers. They did not respond to requests for comment.
Property records list Clara and Manny Gonzalez as the buyers. They secured a $4.9 million mortgage from Regions Bank.
Other recent transactions in the historic district include the $9.4 million purchase of the Biscayne Inn in April by a French real estate investment family, according to The Real Deal. The 52-room motel counts the popular Blue Collar restaurant as a ground-floor tenant.
Julia Echikson can be reached at jechikson@commercialobserver.com.
