Brenner: Press Release

Brenner Sells Grove Plaza

Added 5/1/12

Brenner's Helen Weissman, Commercial Associate, and Suzanne Lopez, Commercial Associate, were responsible for the sale of Grove Plaza, a 46,900 SF, seven story vacant office building at 2900 SW 28th Terrace, Coconut Grove, FL on Monday, April 30. Ms. Weissman and Ms. Lopez represented the owner/seller, 1st United Bank, a Florida Banking Corporation. The buyer, Valor Investments, Inc., an import and export company, was represented by Silvia Lorenzo and Chip Black of Esslinger-Wooten-Maxwell (EWM) Realtors.

In December of 2010, the Miami-Dade County, FL Circuit Court of the 11th Judicial Circuit assigned Brenner Real Estate Group the Property Management Agreement for Grove Plaza on behalf of mortgagee 1st United Bank. Subsequently in June 2011, 1st United Bank took title to the property and assigned property management and sales listing agreements to Brenner Real Estate Group.

Says Suzanne Lopez, "The amount of interest in this property was amazing. We had the listing under contract a couple of times and we always had back-up offers. Helen adn I were constantly getting phone calls and showing the listing. Owner/users and investors were interested in purchasing the property. In the end, the buyer will take some space in the building and lease out the remaining space. We wish we had 10 more buildings like this one to sell."

The sale price of the property was $3,400,000.


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