Regal Acquisitions, a real estate investment firm headquartered in New York City, has acquired the 35,482-square-foot retail component of 2000 Collins Avenue in the South Beach section of Miami Beach, Florida. The site is situated between 20th and 21st Streets and between Collins Avenue and Liberty Avenue, across the street from the Setai hotel. The purchase price was not disclosed.
The property is anchored by CVS. Other tenants include Joe & The Juice, Sweet Liberty Brothers, Orange Blossom Restaurant, Hennah Nail Salon and the Anthony Liggins Gallery. It is also home to Raspoutine, a nightclub owned by the Bagatelle Group.
“After concentrating our attention on New York City, Regal Acquisitions has begun to invest in properties in other metropolitan areas,” said Alex Smith, co-managing partner of Regal Acquisitions. “We’re aiming to emulate our formula for success in multiple locales.”
The majority of Regal’s portfolio is situated in metropolitan New York City. In addition to the Miami Beach acquisition, the company’s other properties are located in the greater Philadelphia area and in Las Vegas.
“By our reckoning, the Miami area seems poised for a post-COVID-19 comeback, and that’s what attracted us to this site,” said Joey Cohen, co-managing partner of Regal Acquisitions. “This venue has a strong anchor, combined with a tenant base offering an appealing food-and-beverage mix.”
The Regal Acquisitions team was led by Sean Dainese. The buyer’s attorney was Marc Gurell of Seyfarth Shaw LLP. The seller, New York-based Madison Capital, was represented by Joseph Ash and Isaac Shabot of Kassin Sabagh Realty.
