Miami, FL

Torose and Sabal Sell Office in Miami’s Coconut Grove for $61M

Published

5 months ago

February 5, 2026

Torose and Sabal Sell Office in Miami’s Coconut Grove for M

Torose Equities and Sabal Investment Holdings unloaded a boutique office building in Miami’s Coconut Grove neighborhood for $61 million, the joint venture announced.

Azora Private purchased the seven-story property at 3480 Main Highway, which faces the Barnacle Historic State Park and is about 5.5 miles southwest of Downtown Miami. The 68,031-square-foot building, which holds about 55,000 square feet of rentable space, is fully leased, according to a representative for the sellers.

SEE ALSO: SoHo Retail Rents Hit Decade-Long High, Lead Manhattan: Report

Office tenants include Ridgeback Biotherapeutics, real estate firm Longpoint Realty Partners, and private equity firm Redbird Capital Partners. Restaurants Amal and Level 6 operate outposts on the ground floor and the rooftop.

Last year, Torose Equities and Sabal Investment Holdings gained control of the asset by buying a $32.5 million mortgage from Madison Realty Capital, which fell in UCC foreclosure. CGI Merchant Group owned about $4.7 million in debt tied to the building, which was completed in 2019.

“We recognized the opportunity to acquire a well-located, fully-occupied asset below replacement cost and reposition legacy leases to current market rates,” Scott Sherman, founder and principal of Torose Equities, said in a statement. “The strong investor demand for quality office assets in this submarket validated our thesis and allowed us to deliver exceptional returns to our investors.”

The purchase adds to Azora Private’s Coconut Grove’s office portfolio. Last year, the Madrid-based real estate investment firm bought both the seven-story building at 3225 Aviation Avenue and the four-story building at 3250 Mary Street for a combined $82 million, The Real Deal reported.

The neighborhood has emerged as one of the most coveted areas in Miami with wealthy executives, who typically want to work near where they live. In the past few months, Google’s billionaire co-founder Larry Page has spent nearly $200 million on estates in Coconut Grove.

A representative for Azora Private did not immediately respond to a request for comment.

Julia Echikson can be reached at jechikson@commercialobserver.com.

Source link

Related Topics:3480 main highway Featured Scott Sherman

Click to comment

Miami, FL

Bugtopia takes center stage at Zoo Miami

Published

10 hours ago

June 27, 2026

Press Room

Bugtopia takes center stage at Zoo Miami

Larger-than-life bug animatronics invade Zoo Miami for a limited-time event.

Families looking for something to do in the city might consider visiting Zoo Miami for their Bugtopia event, which starts on June 27 to October 31.

The zoo will host 13 gigantic animatronics and two photo-op stations.

Starting from the entrance all the way to the Conservation Action Center, guests will find the larger-than-life insects accompanied by colorful comic-style panels with fun facts and sound effects.

The first 250 guests to arrive on June 27 and 28 will receive zoo sunglasses and a free voucher for a kid’s meal from their local Flanigan’s.

Those two opening days will also have a kid-friendly DJ present for extra entertainment.

There will also be “bug-themed tastings” on June 27.

The event will have insect investigation stations as well as microscopic insect explorations called “bug detectives”.

Anyone who completes these activities will earn a junior entomologist certificate.

For families looking for something to do in Miami this summer, you might consider Bugtopia for your next stop.

For more information, click here..

Source link

Miami, FL

Helping Venezuela: Miami search-and-rescue team prepares to deploy

Published

20 hours ago

June 27, 2026

Press Room

Helping Venezuela: Miami search-and-rescue team prepares to deploy

Published: June 27, 2026 at 12:07 AM

Residents walks through the rubble two days after earthquakes struck Catia La Mar, Venezuela, Friday, June 26, 2026. (AP Photo/Fernando Vergara) (Copyright 2026 The Associated Press. All rights reserved) (Fernando Vergara/AP Photo/Fernando Vergara)

MIAMI — Miami Mayor Eileen Higgins announced on Friday that the city’s fire rescue personnel were preparing to deploy to Venezuela’s disaster zone.

Miami-Dade County Mayor Daniella Levine Cava also met with Miami-Dade Fire Rescue personnel, who were also packing for deployment.

“This is something that is important work. We have one of the most well-trained, committed teams in the United States,” Higgins said, according to a video the city released on Friday night.

The U.S. State Department activated Florida Task Force 2, or FL-TF2, an urban search-and-rescue team of about 230, including physicians, structural engineers, hazardous material technicians, and K-9 handlers.

“It’s devastating what happened in Venezuela, so we are making sure that they have the support that they need, and we are going to send a team of 80 people,” Miami Commissioner Rolando Escalona said, according to the city’s video published on X.

The State Department also activated Florida Task Force 1, MDFR Chief Raied “Ray” Jadallah’s team, which has experience working with the Federal Emergency Management Agency.

After the devastating 7.2 and 7.5 magnitude earthquakes struck late Wednesday, the Trump administration first announced the deployment of search-and-rescue teams from California and Virginia.

Related list: Drop-off locations in South Florida

Today, City of Miami leadership stood alongside Miami Fire Rescue personnel designated for deployment to Venezuela following a series of devastating earthquakes. The City reaffirmed its unwavering commitment to humanitarian relief as the federal government’s activation of USAR… pic.twitter.com/C2ul3VEOiT
— City of Miami (@CityofMiami) June 27, 2026

More HELPING VENEZUELA coverage

Venezuela Survivors walk on Friday near a toy that was abandoned in the rubble of an apartment building in Catia La Mar, Venezuela. (AP Foto/Fernando Vergara) (Copyright 2026 The Associated Press. All rights reserved) (Fernando Vergara/AP Photo/Fernando Vergara)

APTOPIX Venezuela Earthquake Rescue workers aid Daniel Cordero after pulling him from the rubble two days after an earthquake struck Catia la Mar, Venezuela, Friday, June 26, 2026. (AP Photo/Fernando Vergara) (Copyright 2026 The Associated Press. All rights reserved) (Fernando Vergara/AP Photo/Fernando Vergara)

Venezuela Earthquake Venezuelan Police searches through the rubble two days after earthquake struck La Guaira, Venezuela, Friday, June 26, 2026. (AP Photo/Ariana Cubillos) (Copyright 2026 The Associated Press. All rights reserved) (Ariana Cubillos/AP Photo/Ariana Cubillos)

APTOPIX Venezuela Earthquake Rescue workers place Daniel Cordero on a stretcher after pulling him from the rubble two days after an earthquake struck Catia la Mar, Venezuela, Friday, June 26, 2026. (AP Photo/Fernando Vergara) (Copyright 2026 The Associated Press. All rights reserved) (Fernando Vergara/AP Photo/Fernando Vergara)

Venezuela Earthquake Members of a religious organization distribute food to people affected two days after an earthquake struck La Guaira, Venezuela, Friday, June 26, 2026. (AP Photo/Ariana Cubillos) (Copyright 2026 The Associated Press. All rights reserved) (Ariana Cubillos/AP Photo/Ariana Cubillos)

Andrea Torres

The Emmy Award-winning journalist joined the Local 10 News team in 2013. She wrote for the Miami Herald for more than 9 years and won a Green Eyeshade Award.

Source link

Miami, FL

Helping Venezuela: State Department deploys Miami-Dade search-and-rescue team

Published

1 day ago

June 26, 2026

Press Room

Helping Venezuela: State Department deploys Miami-Dade search-and-rescue team

Published: June 26, 2026 at 3:36 PM

Updated: June 26, 2026 at 3:48 PM

Residents search through the rubble two days after an earthquake struck La Guaira, Venezuela, Friday, June 26, 2026. (AP Photo/Ariana Cubillos) (Copyright 2026 The Associated Press. All rights reserved) (Ariana Cubillos/AP Photo/Ariana Cubillos)

MIAMI — Miami-Dade Fire Rescue announced on Friday that the U.S. State Department “activated” the department’s search-and-rescue team to work in Venezuela after the two earthquakes.

Leer en español

The fire rescue personnel with the Urban Search and Rescue, or USAR, and Florida Task Force 1, or FLTF1, which includes 80 specialists, will support search and rescue operations.

“We know that many people in our community have family, friends, and loved ones in Venezuela, which makes this mission especially meaningful to us,” a MDFR spokesperson wrote in a statement. “We deploy with a single purpose: to provide hope and assist those who have been affected during this difficult time.”

The FLTF1 “Type I” team also includes six canine teams and experts in 19 areas, including command and control, technical search, structural evaluation and stabilization, planning and technical information, advanced medical care, hazardous materials mitigation, tactical communications, logistics, safety, and technical rescue.

The State Department had already deployed two urban search and rescue teams from Los Angeles and Fairfax, Virginia, that had worked together in Jamaica after Hurricane Melissa.

More HELPING VENEZUELA coverage

Andrea Torres

The Emmy Award-winning journalist joined the Local 10 News team in 2013. She wrote for the Miami Herald for more than 9 years and won a Green Eyeshade Award.

Source link