Sales are expected to move quickly as tenants and investors consider the unique nature of the shopping center, the oldest on Key Biscayne, and its location near upscale condominium residences and a new hotel, said Tony Fraga, president and CEO of FIRC Group Inc., a Miami-based development company.
Timing is everything with real estate.
I think that right now is a good time to benefit from our efforts from all of these years. It's an opportunity for tenants and investors to own a piece of the most successful shopping center on Key Biscayne. Almost half of the center's 76,500 square feet was re-constructed after Hurricane Andrew. The remaining 23 stores share about 37,200 square feet, according to Nickel Goeseke of Cervera Real Estate. FIRC Group is offering tenants the first choice to purchase their units before the sale next week goes public.