Longtime Sunset Harbour tenant Beach Towing has acquired a commercial property South Beach’s Sunset Harbour neighborhood for $6.5 million. The property is located at 1349 Dade Boulevard in Miami Beach and consists of a 2,600 SF building and a 17,932 SF lot.
The transaction was overseen by Colliers Urban Core Division led by Colliers' Executive Managing Director Mika Mattingly and Associate Cecilia Estevez, who represented the seller Festa Family Trust. Eric A. Gonzalez of Roca Gonzalez, P.A. was legal counsel representing the Festa Family Trust in the sale of the property.
“Sunset Harbour has undergone an incredible transformation,” said Mattingly. “This is the first neighborhood I farmed, selling a good chunk of the market’s available land at the time. The area has exploded with development since then.”
Beach Towing has operated an automobile storage and towing company at the property since 1986. The towing company began operations when the property was within an Intensive Commercial District (C-6), which grandfathered the company in when the zoning was changed three years later to Commercial Medium Intensity (C-5). Beach Towing operates as a legal, non-conforming business.
Sunset Harbour has been one of South Florida’s most in-demand neighborhoods in Miami. Miami Beach developer Ronny Finvarb recently acquired a 10,200 SF Sunset Harbour site at 1790 Alton Road for $4 million. Down the road Eighteen Sunset, a mixed-use residential and commercial building featuring office space and an ultra-luxury penthouse, is currently being developed by Deco Capital Group.