Beach Towing paid $6.5 million for the Miami Beach property where it has been based for 35 years.
The car storage and towing company bought the building and parking lot at 1349 Dade Boulevard in Sunset Harbour from the Festa Family Trust, according to a news release.
Mika Mattingly and Cecilia Estevez of Colliers represented the seller. Attorney Eric Gonzalez also represented the seller in the deal.
The property consists of a 2,600-square-foot building and a 17,932-square-foot lot, according to the release. Beach Towing has operated at the site since 1986 when the property was within an intensive commercial district zoning area. The towing company was grandfathered in when the zoning changed to commercial medium intensity, according to the release.
The Sunset Harbour neighborhood faces Biscayne Bay and in recent years has flourished as a shopping and dining destination. Scott Robins and former Miami Beach Mayor Philip Levine played a role in the area’s renaissance, as they developed Sunset Harbour Shops in a public-private partnership with the city.
In 2018, Robins and Levine sold a seven-building retail portfolio in the neighborhood for $68.8 million.
Current neighborhood offerings include a Fresh Market, Publix, Panther Coffee, Icebox Cafe, Naiyara and Barry’s Miami Beach gym.
In May, the planned mixed-use development, Eighteen Sunset, with retail, offices and a residential penthouse, received approval from Miami Beach. Deco Capital Group is developing the project, with the backing of New York City-based billionaire Marc Rowan’s family office.
Deco Capital, whose Sunset Harbour project had been in the works for years, and Beach Towing were previously locked in litigation since at least 2015. In 2020, a Miami-Dade judge’s panel tossed Deco Capital’s petition to overturn car and truck storage at the Beach Towing property as well as Beach Towing’s petitions seeking to overturn city approval of Deco Capital’s project.