Guido Barbagallo Purchases Retail Site From Neil Rollnick In Coconut Grove For $10.65M

The transaction involved a 1-acre retail development site located at 2801 Southwest 27th Avenue in Miami. The sale price was recorded at $10,650,000. The property is currently occupied by a Burger King, with the lease set to expire in the coming years, and is zoned T5. The buyer intends to redevelop the site, contributing to the revitalization of the Coconut Grove area.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $10,650,000
• Address: 2801 Southwest 27th Avenue
• Market: Miami
• Lot Size: 1 Acre
• Buyer: Guido Barbagallo
• Seller: Neil Rollnick
• Broker: Virgilio Fernandez - Colliers

Virgilio Fernandez, the Vice President at Colliers International, facilitated the deal as the broker representing the seller. This transaction was characterized as an all-cash deal, ensuring a seamless process for the seller while simultaneously positioning the buyer for a strategic redevelopment opportunity in one of Miami's thriving neighborhoods.