SRS Brokers $20 Million Sale of Staples-Occupied Property in Miami

Miami — SRS Real Estate Partners’ National Net Lease Group has brokered the $20 million sale of a single-tenant retail property in Miami. Joseph Simon of SRS represented the seller, Crescent Heights. The buyer was a Texas-based undisclosed private investor who was in a 1031 exchange. The retail property is fully occupied by Staples, which has 1.5 years remaining on its lease. Built in 2008 and situated on just under one-acre of land, the 20,288-square-foot property can be redeveloped with zoning that allows for up to 500,000 square feet. Located at 2121 Biscayne Blvd., the property is situated less than 4.5 miles west of Miami’s South Beach.

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