Miami, FL – August 19, 2015 – (RealEstateRama) — Jacque Huttoe and James “Chip” Black of The Huttoe Group at Berkshire Hathaway Florida Realty Commercial, announce the sale of 283 Catalonia Avenue in Coral Gables, Florida.
The 1955-built, signature 2-story building, which totals 22,209 square feet, is situated on a 12,000-square-foot lot and adjacent to three 4,000-square-foot lots, which serve as on-site surface parking for the property.
Huttoe and Black represented the Buyer, 283 Catalonia Realty, LLC, a newly-formed entity managed by Ricardo Bajandas, Esq.
“This iconic building is close to the proposed Mediterranean Village development on Ponce de Leon Boulevard. Small buildings with parking in the Gables rarely become available. This building has parking, is well located, and in good condition. It will cash flow well for the new owners as an office building until economic conditions justify a redevelopment of the property. The way things are going in this part of the Gables, they probably will not have to wait long,” commented Black.
The building formerly served as the executive offices for Mayor’s Jewelers. Mayor’s eventually sold the property to Rasco, Klock, Perez and Nieto, a law firm. Upon the law firm’s relocation to 2555 Ponce de Leon Blvd., Coral Gables, in May 2013, the building was purchased by Petroleum Management for $4.5 million.
Petroleum Management LLC was represented by Ana Lauda “Laly” Rasco and Liz Henriques of Rasco Real Estate Group in the sale of the asset to 283 Catalonia Realty, LLC.
James “Chip” Black is a member and past president of the Commercial Industrial Association of South Florida (CIASF) and currently serves on the organization’s Board of Directors.
CIASF provides education, networking, and advocacy for its members, while serving as a collective voice for South Florida’s commercial real estate community. The association hosts events each month covering a wide range of topics including the Industrial Market Report in January, the Office Market Report in May, and the Commercial Finance Report in September, it’s signature events.
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About The Huttoe Group: The Huttoe Group specializes in commercial real estate sales throughout the Miami-Dade for more than 30 years. The firm has experience in all types of commercial transactions, from land acquisition to property development. For more information, please visit http://www.thehuttoegroup.com/ or call 786.581.1487.
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