The broker coordinating Farrey’s Lighting + Bath‘s sale of its 51,312-sq. ft. Coconut Grove building says the site provides redevelopment opportunities.
“The offering at 3000 S.W. 28th Lane represents a redevelopment opportunity ideal for several potential uses including multifamily, student housing, or mixed-use,” Avison Young principal Keith O’Donnell said in a statement. “The enviable location along South Dixie Highway/US-1, Miami-Dade County’s most traveled north-south roadway, and its proximity to the Metrorail Station on 27th Avenue makes it a rare investment prospect in the thriving Coconut Grove submarket.”
“We are excited to explore new showroom opportunities as we expand to further meet our customers’ needs,” said Bud Farrey, CEO of Farrey’s Lighting + Bath. “The spaces we are considering are well-positioned geographically and for our growth, and we look forward to what’s to come.”
Farrey’s is also acquiring ownership of a previously rented portion of its flagship showroom, corporate offices and warehouse/logistics center at 1850 NE 146 St. in North Miami, Florida. Avison Young says O’Donnell leads the real estate initiatives on behalf of Farrey’s, partnering with principals Mark Rubin and Michael T. Fay.