Tag: 13th Floor Investments

Mattoni Group closes on commercial units at 1010 Brickell

By Katherine Kallergis | November 07, 2017 03:00PM

Key International and 13th Floor sold two units for $10.5M

The developers of 1010 Brickell just sold two commercial units to Mattoni Group for $10.5 million, property records show.

Mattoni put the units under contract about three years ago, president Ricardo Caporal said. They total 11,283 square feet with an additional 1,976 square feet of outdoor space. Mattoni secured leases with the Halal Guys of New York City, an undisclosed national tenant and an undisclosed local restaurant, Caporal said. A 3,346-square-foot space is still available for lease.

Asking rents for the four units averaged about $100 per square foot, triple net. Comras Company’s Michael Comras, Jonathan Carter and Spencer Young represented Mattoni in the leases.

“Our plan is to create a triple-net credit tenant environment and hold it for a very long time,” Caporal said. Retail and restaurant rents in the Design District and on Lincoln Road are much higher, he added.

“We still think there’s a lot of rent growth in the area,” Caporal said.

Key International and 13th Floor Investments delivered the 50-story, 389-unit condo tower in August at 99 percent sold. They also recently paid off the $75.7 million construction loan, according to a spokesperson.

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Mattoni Group buys retail space at 1010 Brickell

Miami-based real estate investment firm Mattoni Group said it has acquired all the street-level retail space at 1010 Brickell, which is being developed by 13th Floor Investments and Key International Development.Mattoni Group purchased more than 11,000 square feet of space on the ground floor of the Brickell Avenue condominium tower, which will have 50 floors and 387 units. Mattoni Group said it plans to lease the spaces to major retailers, with an asking Rendering of 1010 Brickell rental rate of $100 to $150 per square foot. The property is scheduled to be completed in fall 2017.Brokers Fernando Naranjo, president of The Orange Group, Real Estate Corp. and Lucio M. Rodrigues, of AG Real Estate Advisors, represented Mattoni Group in the deal.1010 Brickell is positioned to have accessibility to the Tenth Street Metromover station on the Brickell Loop in Brickell. It is also in walking distance to Brickell’s main attractions & restaurants at The Shops at Mary Brickell Village and the future Brickell City Centre.In November, the developers obtained a $76 million syndicated construction loan, led by Regions Bank, for the project. Construction began in September for the building, designed by the Sieger Suarez Architectural Partnership.“Since Brickell is a growing metropolitan residential community,” Ricardo Caporal, founder and president of Mattoni Group, said in a statement, “the area has a high density of residents, making it a desirable location for retailers.”
Tags: 1010 Brickell, 13th Floor Investments, Key International Development, Mattoni Group– See more at: http://therealdeal.com/miami/blog/2015/02/17/miami-real-estate-firm-buys-retail-space-at-1010-brickell/#sthash.2X0Sokvq.dpuf

Mattoni Group buys ground floor retail at 1010 Brickell

Miami-based real estate investment firm Mattoni Group has acquired all of the ground floor retail space at 1010 Brickell, which is being developed jointly by 13th Floor Investments and Key International Development. Mattoni’s purchase amounts to more than 11,000 square feet of space in the condominium tower which will feature 387 units over 50 floors. The company is expected to charge $100 to $150 per square foot for the retail space which it plans to lease to major retailers. 1010 Brickell is scheduled for completion in the fall of 2017.