Concourse Terrace Portfolio

Blanca Commercial Real Estate, Inc. is pleased to be appointed as the exclusive agent for the sale of Concourse Terrace, a rare investment and development opportunity located in the world-renowned Bay Harbor Islands. This offering combines a 100% leased, ±14,920 SF income producing retail and office building alongside a prime development site with town-approved plans for a state-of-the-art, seven-story office and retail project. The immediate cash flow from the existing building provides value to a developer seeking to capitalize on the fully entitled site to construct a modern, class “A” office building.
This opportunity far exceeds the typical value of a covered land play. Unlike traditional redevelopment scenarios where existing structures are demolished, Concourse Terrace allows the current income-producing building to remain intact while the project is constructed. The new development will feature private outdoor balconies and terraces on the office floors, floor-to-ceiling windows, and an access-controlled parking garage offering 56 covered spaces, complemented by 8 exterior spaces, totaling 64 spaces on site. Concourse Terrace is positioned to meet the increasing demand for premium office space in one of South Florida’s most sought-after markets while serving as a revenue-producing trophy asset.

Investment Highlights :
Fully Leased Retail and Office Building Generating Significant Income
Below Market Rents in the Existing Building with Tremendous Upside Potential
Interior Renovation of the Existing Building in 2022
Town-Approved Plans for a Boutique Office Building in a Submarket Where Land for Feasible Development is Scarce
Located in Bay Harbor Islands, a Highly Sought-After Submarket with World-Class Amenities