BAR investment group, which developed the Shops at Mary Brickell Village, announced last week that it is leaving Brickell for a new location: Coral Gables.
The move is yet more evidence of the Gables’ growing appeal, something ComReal has covered extensively in the past. It also indicates a growing trend of Brickell tenants seeking out new neighborhoods: both Gensler and Bolton Global Capital recently announced their moves out of the area, citing Brickell’s heavy traffic as a main driver for their decisions.
According to the Miami Herald, BAR bought a 4,000 square foot space in Ofizzina, a 16-story, 100,000 square foot office condo building at 1200 Ponce de Leon Blvd, for $3 million.
TSG Group, who developed the Offizina project, said sales have increased steadily over the last few months, and that there are only 7 units left in the building. Buyers include investors looking to lease the space and end-users like technology companies, law firms and wealth management firms.
One of BAR’s new neighbors will be ComReal. We are headquartered just a few minutes away at 51 Merrick Way, and we have played a significant role in the area’s growth and revitalization over the years. We are pleased to see more projects, tenants and developers moving in.
Interested in the Gables? Let us show you around. Contact ComReal for any of your commercial sales or leasing needs today.