Q2-2021 Lease & Sales Comps - Aventura, North Miami & North Miami Beach, FL

Sales Comparables: According to Costar, 8 commercial buildings/properties/land parcels were sold in Q2 2021 in Aventura, North Miami or North Miami Beach. Notable among these sales was Cardone Capital's purchase of the office building, Harbour Centre at Aventura, located at 18851 NE 29th Avenue Aventura, Florida 33180. The building was sold for $93,000,000 ($387.50/sf), and will be renamed 10X Centre. Please contact me if you would like additional details on any of the referenced transactions!

Lease Comparables: According to Costar, 57 commercial leases (40 office transactions, 17 retail) were signed in Q2 2021 in Aventura, North Miami or North Miami Beach. Notable among them was Safra Bank's lease of 15,321sf at Optima White Tower, located at 21500 Biscayne Blvd Aventura, Florida 33180. Please contact me if you would like additional details on any of the referenced transactions!

Summary/Notes: To a large extent retail and industrial Landlords now see COVID-19 as being firmly in the rearview mirror. Office landlords, however, are still juggling fluid demands from occupants, and the office ownership outlook seems softer than other sectors. While many will make time in the summer months for vacation, it can also be very useful time to gain a strategic time advantage if you are considering selling. If we can help you evaluate your property or market, please let me know!