Ben Mandell, Alex Karakhanian & Michael Simkins Acquire Retail Space In Miami For $22.5M

The property involved in the transaction is a ground-floor retail space located at 2431 Northwest 2nd Avenue in Miami. The asset, part of the Society Wynwood mixed-use development project, was sold for $22.5 million. The retail space spans 32,000 square feet and is strategically situated in Miami's Wynwood neighborhood. Notable pre-leases have been secured with tenants like Starbucks, Nacho Daddy, and Chama De Fogo Brazilian Steakhouse.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $22,500,000
• Buyer: Ben Mandell - Tricera Capital; Alex Karakhanian - Lndmrk Development; Michael Simkins - Lion Development Group
• Seller: Kevin Maloney - Property Markets Group; Peter Politis & Sasha Cucuz - Greybrook
• Market: Miami
• SF: 32,000
• PPSF: $703

The acquisition of the ground-floor retail space at Society Wynwood was led by Ben Mandell, Alex Karakhanian, and Michael Simkins. This deal involved notable figures in the real estate industry, including Kevin Maloney from Property Markets Group and Peter Politis & Sasha Cucuz from Greybrook. The project's location near Wynwood Walls adds an attractive element to the investment.