South Beach Garage

Miami Beach, FL

Acquired January 2014

At a Glance

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South Beach Parking Garage, Miami Beach, Florida

Investment Rationale

  • The garage contains 340 spaces along with 3,350 SF of ground floor retail space.

  • Located on highly trafficked Collins Avenue in the heart of South Beach’s vibrant Art Deco neighborhood. One block from the beach and surrounded by numerous hotels, nightclubs, residential towers, retail destinations, and entertainment venues.

  • The garage has multiple revenue generators including hourly, monthly and valet parkers.

  • Limited parking supply on South Beach with increasing demand as new hotels are developed without parking.

  • Provides a potential inflation hedge with little capital expenditures.

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