Rene Dahdah has disposed the former Fox’s Lounge site outside Miami to an investment group for $7.5 million. Colliers International South Florida broker Marcos Puente represented seller in the sale of the assemblage, comprised of two separate parcels on South Dixie Highway and 7435 SW 61st Avenue. Fox’s Plaza was marketed with pre-approved architectural plans to develop two, four-story mixed-use buildings comprised of retail, office and residential uses along with onsite parking. The former popular Fox’s Lounge operated at the location for 69 years before it closed in 2015.
“The South Dixie Highway corridor is a strong retail market because of the high traffic counts and the growing affluent demographics,” said Colliers International Marcos Puente. “Properties along the corridor rarely go up for sale. From private to institutional investors, they can’t have enough of this corridor because of the rent growth potential and its location near mass transit – which is the future of Miami.”
