European investor Aran Properties Inc. has picked up the retail portion of the 57 story Marinablue mixed-use skyscraper in central Miami in a $14.9 million deal. Totaling 11,090 sqf, the retail space consists of seven retail condos currently occupied by CVS and Wine by the Bay. Located at 888 Biscayne Boulevard, the ground-floor retail space sits across the street from the American Airlines arena and within walking distance to the Miami Worldcenter development project. Colliers International South Florida’s VP of Capital Markets Marcos Puente represented both the buyer and the seller, Grouper MB Holdings. “Downtown Miami has become a very competitive market and you have a lot of capital chasing deals,” said Colliers International Marcos Puente. “But when there is nothing on the market that fits your client’s needs, you have to rely on long-term relationships to create opportunities. That’s what we accomplished with this trade.”
