Lee S. Katsikos SIOR
The Katsikos group
Cell: 305-970-4532
Office: 305-717-1880
Fax: 305-717-1881

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Case Studies
Dealmakers: Lee Katsikos, Jorge Rosell and Jorge Davila

The Deal: Davila represented Indian Creek Boutique Apartments, LLC in its purchase of Dixie 102 Plaza, an 18,911 square foot shopping center in Pinecrest for $8,350,000.

The deal closed on October 7.

Details:  Indian Creek Boutique purchased the property from Thirteen Pinecrest, LLC owned by American Realty Capital, a Miami private real estate investment firm represented by Katsikos and Rosell.

The retail center was built in 2007 and is anchored by Anthony’s Coal Fire Pizza and Concentra Urgent Care.  The deal includes the outparcel currently under construction that will be a new branch for TotalBank.  About 80 percent of the property’s annual income is generated from these three tenants, Davila said.

"These three tenants bring enough corporate guaranteed income to cover a large portion of the monthly or yearly income," Davila said.

 Other tenants are office users on the second floor.  The center is 93% occupied with one vacancy of 1,279 sf on the ground floor.

Pinecrest was incorporated in 1996 and is one of thirty-four municipalities in Miami-Dade County.  Pinecrest is located south of Downtown Miami and Miami International Airport.

“Pinecrest is a very tight market with high barriers to entry.  It is an affluent established community with minimal if any retail product for sale.” Katsikos said.

Background: Jorge Davila is a senior associate of The Katsikos Group, Inc. in Miami.

Lee S Katsikos is the Broker of The Katsikos Group, Inc. and Jorge Rosell is the Broker of J A Rosell & Associates.
 
 
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The Katsikos group ♦  8669 NW 36th Street Suite 315 Miami, FL 33166
lkatsikos@thekatsikosgroup.com  ♦ Office: 305-717-1880 ♦ Fax:  305-717-1881

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