Q4-2020 Lease & Sales Comps - Aventura, North Miami & North Miami Beach, FL

Sales Comparables: According to Costar, 2 commercial buildings/properties were sold in Q4 2020 in Aventura, North Miami or North Miami Beach. Notable was 12600 Biscayne Blvd currently a casual dining concept “Evio's”, but for many years in the past this was home to an Entenmann's bakery outlet store. The property was sold with a lease in place, to local active retail investors. The recorded sale price was stated to be $741,825, or $411.21/sf. Please contact me if you would like additional details on any of the referenced transactions!

Lease Comparables: According to Costar 52 commercial leases were signed in Q4 2020 in Aventura, North Miami or North Miami Beach. Worth mentioning is the 5,000sf of industrial space leased in October 2020, at 2020 NE 153rd St. Note that of all the reported lease transactions, 34 were for office properties, 4 medical office transactions, with the remainder for retail or industrial spaces. Please contact me if you would like additional details on any of the referenced transactions!

Summary/Notes: As the fourth quarter came to a close in 2020 many investors and owners took a traditional wait and see approach to the commercial markets, given the position of the US economy coupled with being a Presidential election year. Today, however, all signs indicate that greater transactional activity may resume in Q1 2021 with investors poised in organized and well-funded groups, on the hunt for value and opportunity. If you would like to consult on your 2021 plans for your office, industrial or retail property, please contact us today!

For a summary of my active listings, please see them using this helpful link, https://www.bergercommercial.com/property-search/?brokerId=12611.