Merrick Manor Sells Out Commercial Spaces With Sales Of Prime Ground-Floor Retail Suite

Merrick Manor continues to generate strong interest from investors seeking Class A commercial real estate in Coral Gables. The luxury mixed-use building developed by the Henry Torres-led Astor Companies, has sold out the commercial spaces following the $5.44 million sale of several retail condominiums, including two units occupied by popular fitness studio Sweat 440.

Prisma Properties LLC acquired Merrick Manor commercial units CU3, CU8-9 and CU10 in a transaction that closed on April 26. ONE Sotheby’s International Realty Global Commercial Director Manny Chamizo III, the exclusive sales representative for Merrick Manor’s 20,000 square feet of prime ground-floor commercial space, brokered the sale. Merrick Manor’s ground-floor retail space is now fully leased or owned by owner/users.

Sweat 440 occupies 3,055 square feet in CU8-9. The high-intensity interval training (HITT) studio has a passionate following among its members, which range from beginners to fitness enthusiasts. Sweat 440 has locations in Florida, New York and Canada.

The 1,307-square-foot CU3 is currently utilized as the Sales Gallery for Merrick Manor’s limited inventory of available luxury residences. Located at 301 Altara Ave., next to the world-class Shops at Merrick Park and in the middle of the city’s Design and Innovation District, Merrick Manor is experiencing brisk residential sales activity and is on pace to sell out within the next six months.

M&B Dental Associates, P.A., led by renowned aesthetic dentist and decorated U.S. Navy veteran Dr. Ivan Mendoza,occupies the 1,669-square-foot CU10. M&B and Sweat 440 are part of Merrick Manor’s Health and Beauty Corridor, which also includes Anaïs Nails & Spa, Body Details, Elegance Beauty Salon and Trésor.

“Our success in curating Merrick Manor’s ground-floor retail space with a dynamic mix of tenants, which comprise the building’s Health and Beauty Corridor, played a major role in this new investment sales transaction,” Chamizo said. “The buyer recognized that prime commercial real estate like this is at a premium in Coral Gables. We are proud to produce another tremendous outcome at Merrick Manor.”

The sale to Prisma comes as another signature Merrick Manor commercial tenant, high-end furniture retailer Sierra Muebles, prepares to open its first U.S. showroom at the building in the next few months. A Peru-based retailer that has exclusive representation of the Brazilian brand in Peru and Miami-Dade County leases Merrick Manor’s largest commercial space, which totals 4,448-square-foot.

“This transaction underscores the long-term belief in our building from the real estate community,” Torres said. “Merrick Manor has an unparalleled location and commercial space that perfectly complements the building’s 227 residences.”

Talent Hub Agency Acquires Ground-Floor Retail Suite At Merrick Manor In Coral Gables

Merrick Manor in Coral Gables has announced the sale of a ground-floor retail condominium to Talent Hub Agency, where the firm will open their new Miami headquarters following the acquisition. Merrick Manor is a mixed residential and commercial luxury condo building developed by the Henry Torres-led Astor Companies. The condominium offers nearly 20,000 square feet of prime retail space on the ground floor neighboring the Shops at Merrick Park. Manny Chamizo III, the Global Commercial Director of ONE Sotheby’s International Realty, arranged the sale of this Class A retail space to Talent Hub.

“With interest rates low, prospective commercial tenants are realizing they can buy their own spaces at prices on par with market rents and take advantage of appreciation while building equity,” Chamizo said. “Talent Hub’s purchase at Merrick Manor underscores how this building offers an unparalleled opportunity to buy Class A commercial product within a brand-new luxury mixed-use building just steps away from the world-class Shops at Merrick Park.”

Talent Hub is co-owned by Puerto Rican actor, singer and songwriting Carlos Ponce. The agency represents many A-list influencers and celebrities which will add even more character to the already existing and diverse mix of retailers and businesses at Merrick Manor. Existing businesses include Anaïs Nails & Spa, Body Details, Elegance Beauty Salon, Sweat 440, Trésor and a substation for the Coral Gables Police Department. Coral Gables business district is the perfect location for many businesses as it is easy to commute from Downtown Miami and Miami International Airport. This central location is even walkable to Miracle Mile.

“Merrick Manor is an ideal location for Talent Hub’s Miami headquarters,” Ponce said. “The quality of the building is impeccable. We look forward to helping our talented members realize their vast potential in our new home.”

Berkshire Hathaway HomeServices EWM Realty is the exclusive residential sales and marketing representative at Merrick Manor located at 301 Altara Avenue in Coral Gables.