Avison Young to facilitate relocation of Farrey’s Lighting + Bath showroom in Coconut Grove, Florida, and sell current location for redevelopment
After 95 years, Farrey’s continues to grow and serve Miami community
Coconut Grove, Fla. — Avison Young’s Florida Capital Markets Group has been retained by Farrey’s Lighting + Bath to facilitate the relocation of its Coconut Grove retail showroom including the sale of its 51,312-square-foot building at 3000 S.W. 28th Lane. The relocation plans are the result of the growth and continued commitment of Farrey’s to the community the company has served for more than 95 years. The Farrey’s showroom in Coconut Grove will continue to operate pending the relocation.
“We are excited to explore new showroom opportunities as we expand to further meet our customers’ needs,” said Bud Farrey, CEO of Farrey’s Lighting + Bath. “The spaces we are considering are well-positioned geographically and for our growth, and we look forward to what’s to come.”
Farrey’s is also acquiring ownership of a previously rented portion of its flagship showroom, corporate offices and warehouse/logistics center at 1850 NE 146 Street in North Miami, Florida. Bud Farrey states, “This year we will be celebrating our 95th year and with this acquisition we will assure that Farrey’s Lighting + Bath will continue to be the premier provider of lighting and decorative bath and hardware to the South Florida market.”
Avison Young Principal Keith O’Donnell leads the real estate initiatives on behalf of Farrey’s partnering with Avison Young Principals Mark Rubin and Michael T. Fay.
“The offering at 3000 S.W. 28the Lane represents a redevelopment opportunity ideal for several potential uses including multifamily, student housing, or mixed-use,” said O’Donnell. “The enviable location along South Dixie Highway/US-1, Miami-Dade County’s most traveled north-south roadway, and its proximity to the Metrorail Station on 27th Avenue makes it a rare investment prospect in the thriving Coconut Grove submarket.”
Avison Young provides best-in-class services to local, national, and international clients while also networking with the firm’s other offices across the U.S. and Canada. For more information about Avison Young or the investment offering, please contact Mr. O’Donnell at (561) 893-7011 or visit www.avisonyoung.com.