Lumer Buys LA Fitness Near Miami Zoo for $15M ...Middle East

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Lumer Buys LA Fitness Near Miami Zoo for $15M
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Lumer Real Estate paid $15.4 million for a newly completed LA Fitness gym near the Miami Zoo, inside of the controversial Botanica development, property records show. Last year, Ram Realty Services completed a 45,000-square-foot building on 5.3 acres at 15400 SW 127th Avenue, a little over a mile north of the zoo. The only tenant is LA Fitness at the single-occupier building.  The net lease agreement, which went into effect in October, lasts 15 years and is slated to generate $925,000 in net operating income for the first five years, according to an offering memorandum from Atlantic Retail.  Lumer Real Estate, led by Gustavo Lumer and Marina Kessler, functions as a residential and commerci

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