The Valencia Coverings building in Miami’s Little River Business District recently sold for $7.2 million. The 21,454-square-foot property sits on a 32,625-square-foot lot. The buyer plans to renovate the property slightly. ShadeMonster LLC will remain a tenant at the property and additional space will be available for rent.
Gridline Properties, a full-service commercial real estate brokerage firm based in Miami, represented the buyer and seller in the transaction. Ernie Perez, associate with Gridline Properties, represented buyer Jackie Chariff. Pablo Rodriguez, associate with Gridline Properties, represented seller Carriles Corporation. The off-market transaction was a cash deal.
“This marks another successful transaction for Gridline Properties in the Little River neighborhood,” Alfredo Riascos says, principal and broker at Gridline Properties. “It attests to the strength and demand of the local real estate market. We are proud to have represented both the buyer and seller in this sale, which signals our strength and expertise in the immediate submarket and urban core corridor.”
The Little River Business District is home to multiple companies, tenants, and owners that have transformed one of Miami’s oldest industrial areas into an area focused on creativity, design and innovation.
Photo courtesy of Gridline Properties