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JBL Asset Management buys retail condo near Miami Design District for $17.3M
The 25,504-square-foot ground-floor retail unit at 3900 Biscayne Boulevard is the Quadro building’s only remaining retail space JBL is marketing for sale.
JBL Asset Management has purchased a retail condo near the Miami Design District for $17.3 million, according to Commercial Observer, citing property records. The deal covers a 25,504-square-foot ground-floor asset at 3900 Biscayne Boulevard in the Quadro condo building.
The property is positioned just east of the Design District and faces train tracks, Commercial Observer reports. The article says the Quadro’s retail tenants include The Shade Store, 7th Avenue furniture store, and Waterworks plumbing supply store.
Commercial Observer also notes that JBL, based in Hollywood, Florida, is marketing a 2,358-square-foot suite as the last remaining retail space at the 407,498-square-foot condo building.
The purchase comes as the Design District moves through a broader expansion, with the owners of the district’s development reportedly securing a $125 million construction loan for a Snøhetta-designed, mixed-use building earlier this week. Commercial Observer adds that the joint venture also launched sales for a Fouquet’s condo and hotel development designed by David Chipperfield.