A 55,000-square-foot Coconut Grove office and retail asset traded for $61 million. The price works out to $1,100 per square foot. Torose Equities and Sabal Investment Holdings sold the property to Azora Private.
3480 Main Highway was acquired through an off-market loan purchase in January 2025, and title was taken shortly thereafter via UCC foreclosure. Torose maintains that the disposition represents a strategic value-add success, with the company delivering strong returns to investors by repositioning a complex distressed-debt acquisition in just one year.Â
After acquiring the distressed property, Torose executed new leases at rents well above existing in-place rents, capitalizing on the tight supply and strong tenant demand in Coconut Grove.
This disposition follows Torose Equities’ recent acquisitions in downtown St. Petersburg and Miami Beach’s Lincoln Road, further demonstrating the firm’s track record of strategic value creation across high-growth markets in the Southeast. Â
The post Torose-Led Team Offloads Coconut Grove Office/Retail Asset for $1,100/SF appeared first on Connect CRE.
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