Colliers Arranges $14.9 Million Sale of Retail Space in Marinablue Tower in Downtown Miami

Totaling 11,090 square feet, ground level retail space within the Marinablue tower in downtown Miami consists of seven retail condos currently occupied by CVS/pharmacy and Wine by the Bay. Totaling 11,090 square feet, ground level retail space within the Marinablue tower in downtown Miami consists of seven retail condos currently occupied by CVS/pharmacy and Wine by the Bay.

Miami — Colliers International South Florida has arranged the $14.9 million sale of ground-level retail space within Marinablue, a 57-story mixed-use skyscraper in downtown Miami.

Totaling 11,090 square feet, the retail space consists of seven retail condos currently occupied by CVS/pharmacy and Wine by the Bay. Located at 888 Biscayne Blvd., the ground-floor retail space sits across the street from the American Airlines arena and within walking distance to the upcoming Miami Worldcenter development.

CVS moved into its new location in mid-July, after signing a 25-year lease to occupy six of the condos. The other tenant, Wine by the Bay, occupies one unit and is also in a long-term lease. Aran Properties Inc., a European investor, purchased the retail condos from Miami-based Grouper MB Holdings LLC at a 4.22 percent cap rate. Marcos Puente of Colliers International represented both the buyer and the seller in the transaction.

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