Gridline Properties Represents Buyer & Seller in $7.2M Sale of Valencia Coverings Building in Miami
Gridline Properties, a full-service commercial real estate brokerage firm based in Miami, recently represented both the buyer and seller in the transaction and closing of the Valencia Coverings building, for $7.2 million on March 6, 2023. Located at 275 NE 59 St., Miami, FL 33137, the property is situated in Miami’s Little River Business District.
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.
Located on a 32,625-square-foot lot, the building measures 21,454 square feet. The buyer plans to lightly renovate the property. ShadeMonster LLC will remain a tenant at the property; additional space will be available for rent.
“This marks another successful transaction for Gridline Properties in the Little River neighborhood,” said Alfredo Riascos, 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.”
A hub for re-adapted industrial buildings, the Little River Business District has attracted an array of creative and design-oriented businesses that have spontaneously identified the surrounding neighborhood as one of Miami’s most up-and-coming districts. It is home to a wide variety of businesses, tenants, and owners that have transformed one of Miami's oldest industrial areas into a neighborhood that promotes creativity, design, and innovation.