Description de l'actif
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer the opportunity to acquire a trophy restaurant condo for sale. The tenant of restaurant condo is GEKKŌ (the “Offering” or “Property”), a world renown Japanese-inspired steakhouse in the heart of affluent Brickell Financial District. The Asset has approximately 15 years of remaining lease term with minimal landlord responsibilities as well as forty reserved parking spaces for their valet services - contributing a substantial revenue stream for the owner of the retail condominium.
Located in the heart of the affluent Brickell neighborhood, GEKKŌ opened its doors in August 2022 and immediately gained international popularity due to its backing from the recording artist Bad Bunny as well as the broad array of celebrities, sports icons, and public figures that have walked through its signature red awning entrance. In addition, the tenant spent a significant amount of capital on their build out, transforming the space into a lavish, intimate restaurant and lounge. The Property is also one of the few restaurants in the area with a liquor license that comes with the property and is owned by the landlord. These are pivotal to the success of any top-tier restaurant and lounge. The Property is across the street from Brickell City Centre, the landmark, $1 billion development featuring two luxury residential towers, a 120-retailer shopping center, two mid-rise office towers, and the first EAST hotel in the nation. In addition, the Offering is also proximate to Mary Brickell Village, the grocery-anchored mixed-use center which was recently renovated and modernized. Both mixed-use centers are ranked top in the nation and attract over 6 million visitors per year (per Placer.ai).
The Property represents a truly generational opportunity to acquire a market dominant, trophy restaurant asset of scale in Miami’s thriving Brickell Financial District with durable in-place cash flow and a high rent-to-sales ratio.
Caractéristiques de l'actif
Points clés d'investissement
- The Offering features: Liquor License (Owned by the Landlord) & 40 valet parking spaces that provide an additional stream of revenue
- Best-In-Class tenancy with superb sales
- Over 15,000 new residential units in development pipeline
- Elite levels of affluence in Brickell
- Premier destination in Miami's highly coveted Brickell
- Over 76,000 residents within 10 blocks
- Over 6,600 hotel rooms
- Population has increased over 203% in a 5-minute walking radius since 2010