That's some Real Estate...
Cheo_D
I'd better be where I can Look AND Touch
http://www.miamiherald.com/news/business…
Just look at that aerial view. Prime location down the road from Aventura, it was almost certain to go for upscale condos/shopping as soon as the market showed any signs of life.
Going in the opposite direction, the month before that Rick's Cabaret Inc. bought outright the shopping center that houses Tootsie's in Miami Gardens for 15.3 million.
http://www.miamiherald.com/news/business…
I can understand Rick's policy of owning rather than leasing but really, a whole stripmall in a Miami Gardens industrial/commercial zoned block?
Damn that's some high-value space the high-maintenance gals were occupying. Property market must be finally picking up in Miami-Dade
OTOH now I have a reference point for when I hit the big Powerball jackpot...;)
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Tootsie's is more in an industrial area and less affluent. I don't think that location works for residential or high end retail.
Sounds like Dean's Gold clock may be clicking. No worries I was only there once decades ago.
Def in a good location w/ nearby Aventura as you mentioned but also pretty-much next-to Sunny-Isles/North-Miami-Beach which has gone way upscale in the last few years.
Tootsies is on a major intersection in a fairly heavy commercial area – it is a sizable piece of real-estate which used-to house a BJ's Wholesale Club – there is also a very big Publix Supermarket warehouse/distribution-center just down the street so I can see the Tootsies real-estate having value for some other commercial purpose if Tootsies fails to exist.
On a somewhat related-note; I've been driving south on 95 past King of Diamonds on different weeknights and seems the KOD parking-lot is empty – I'm nor sure if the club was open and I just didn't see the cars since I was keeping my eyes on the road and there are some bushes that obstruct the view of the club; but I wonder what the current state of KOD (another huge club) is – supposedly it was sold a while-back (~2 yrs ago?) but not sure.
And speaking of the general area, Black Diamonds is also right on US1 even closer to Aventura than Dean's, and though it's kind of wedged into remnant land between the rights-of-way of US1, Dixie Hwy and the RR, the lot could still be susceptible to be upscaled or family-friendlied if the market on that piece of road begins going up.
SJG