Tricera Capital, a real estate investment firm with a focus in Central and South Florida, announced last week that it is under contract to purchase the ground-floor retail space at Vice, a new mixed-use project in downtown Miami at 243 NE Third St.

Two of the retail bays have already been leased to tenants GOGO Fresh and OXXO Dry Cleaners. They are expected to open next summer.

Vice is a 31-story “social living” apartment community developed by PMG. It will offer more than 460 rental units. The project sits across from Miami Dade College’s Wolfson Campus.

Tricera Capital founders Scott Sherman and Ben Mandell told Bisnow that 25,000 students pass through the area each day.

“Location is key, and Vice is perfectly situated in Miami’s Downtown Urban Core, steps away from the Metromover, American Airlines Arena, Bayfront Park and Miami-Dade College,” Mandell said. “The neighborhood is experiencing a boom driven by residential, office, hotel and retail development. This is the time to break in and establish a presence in the heart of all the action.”