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Aromatherapy Supply Store Aromoa360 Inks Deals For 33,500 SF In Wynwood

aroma360 miami showroom_photo credit aroma360 1170x435

Aromatherapy supply store Aroma360 opened offices, and storage and production outposts in Wynwood neighborhood.

Aroma360 took 4,000 square feet at 10 Northwest 24th Street; 7,500 square feet at 31 Northwest 23rd Street; 2,000 square feet at 51-53 Northeast 24th Street; and 20,000 square feet at 38 Northwest 24th Street, according to a company spokesperson. The outposts, which are open, are not storefronts.

Founded and led by Benzion Aboud, Aroma360 has collaborated with brands such as Ferrari and Cipriani, as well as celebrities such as Dwyane Wade and Dr. Dre.

Miami-Dade County real estate investor Doug Levine, through affiliates, owns the buildings, property records show.

The deals mark an expansion for Aroma360, which already leases a 50,000-square-foot warehouse at 1148 Northwest 72nd Street in unincorporated Miami-Dade.

 

Source: The Real Deal

 

 

 

 

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Wynwood Dev Site Goes On The Block For $30M

Doug Levine is listing three Wynwood retail buildings primed for redevelopment, with an asking price of $30 million.

The Crunch Fitness founder and real estate investor is looking to sell the fully leased properties at 2324-2328 North Miami Avenue and 36-38 Northwest 24th Street, according to an offering.

Levine paid a combined $5.9 million for 0.7-acre assemblage in 2013 and 2014, records show. The buildings were completed in 1928 and 1950.

The three buildings, totaling 25,855 square feet, are fully occupied, but the majority of tenants have expiring leases, the offering states. Tenants include 305 Degrees Burger Bar and Back Door Monkey bar nightclub.

The site also comes with a liquor license.

Potential buyers can redevelop the properties into an eight-story to 12-story mixed-use project with either 108 residential units or  216 hotel rooms, the brochure states. Under Wynwood’s zoning overlay, developers can also obtain bonuses to build an additional 54 residential units or an additional 108 hotel rooms.

Levine is also willing to provide seller financing of up to 50 percent of the portfolio’s value, according to the offering.

 

Source:  The Real Deal

 

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