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20505 South Dixie Highway

Updated Oct 29, 2024

Electra America Acquires Retail Property In Cutler Bay For $34M
SOLDRetail

Electra America Acquires Retail Property In Cutler Bay For $34M

20505 South Dixie Highway

$34,000,000

$261/SF

Building Size

130,000 SF

Asset Type

Retail

Closing

Oct 24, 2022

About this deal

AI

Electra America, led by Joe Lubeck and BH Group, has acquired a retail property in Cutler Bay, located at 20505 South Dixie Highway. The asset spans across 15 acres, providing ample space for retail operations. The transaction was facilitated by brokers Michael Fay and John Crotty from Avison Young. The sale price for the property was reported at $34,000,000, with a total square footage of 130,000 and a price per square foot of $262. The seller of the property was Seritage Growth Properties, represented by Andrea Olshan.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $34,000,000
  • Address: 20505 South Dixie Highway, Cutler Bay
  • Market: Cutler Bay
  • Acres: 15

The involvement of Joe Lubeck and the BH Group as buyers highlights their interest in expanding their real estate portfolio. Seritage Growth Properties, led by Andrea Olshan, made the decision to sell the property. The successful transaction demonstrates the capabilities of brokers Michael Fay and John Crotty from Avison Young, who represented the parties involved. This acquisition presents an opportunity for Electra America to further establish its presence in the retail market in Cutler Bay.

On the Map

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$34,000,000

$261/SF

Retail

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Players

John Crotty

Avison Young

Broker

$1.6B

vol

53 deals

Broker
BH Group
BH GroupBuyer
Andrea Olshan

Andrea Olshan

Seritage Growth Properties

Seller

$178.4M

vol

7 deals

Seller
Bilt advertisement

Cutler Bay Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Deal FAQ

About $261 per square foot on a published $34M for 130,000 square feet (2022).

Visit Michael Fay to view all their deals.

Browse Cutler Bay retail sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.47%

Cash-on-Cash

-0.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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