With capital still cheap, building users are becoming owners—including a few real estate firms. Recently Pointe Group Advisors, which has 10M SF of commercial property under management, acquired 1.4 acres in Coconut Grove that includes a surface parking lot and its 25k SF HQ building at 3444 Main Hwy for $14M. Pointe Group CEO Peter Gardner tells us that the company’s committed to Coconut Grove, but also jumped on the chance to own the building because it’s a solid investment. The seller, Grover Commercial Enterprises, was repped by Keller Williams Premier Properties’ Louis Erice.
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