ASG Equities sells 70–74 NE 40th Street in Miami’s design district luxury retail corridor

ASG Equities announced it has finalized the sale of 70–74 NE 40th Street, the last of a three-building retail portfolio within Miami’s famed Design District.

Located on a corridor in Miami’s high-end shopping district, 70–74 NE 40th Street is fully occupied by luxury brands Ksubi and Orlean. The freestanding, single-story building, which was acquired by Dacra for $14 million, features 4,500 square feet of retail space.

The transaction marks the successful conclusion of a three-building Miami Design District portfolio sale. In March, ASG sold 80 NE 40th Street to Dacra as well.  In November, after successfully leasing the entire building located at 101 NE 40th Street to Alo Yoga during the COVID pandemic, ASG then sold the asset to Alo for $4,400 per square foot.

A few blocks away, ASG is working with its partner Helm Equities on Parterre 42, a 500,000-square-foot mixed-use project spanning an entire Design District block. Designed by COOKFOX architects,