Landmark $28.2M sale of CATCH Miami Beach building sets Florida record

MIAMI, Jan. 21, 2025 – JLL Capital Markets announced today that it has successfully arranged the $28.2 million sale of CATCH Miami Beach restaurant.

JLL represented the seller, the Black Lion Investment Group, and procured the buyer, River Oaks Properties, who was represented by Pegasus Investment.

CATCH Miami Beach is fully leased to CATCH restaurant - a venture led by Tilman Fertitta, Mark Birnbaum and Eugene Remm - and backed by Landry's, an operator out of Houston, Texas with over 600 locations nationally. The restaurant began as a standalone New York City operation and has expanded into seven major markets, including Dallas, Los Angeles and Las Vegas. There are 15 years of remaining lease term with two percent annual rent increases. This opportunity is the latest of Black Lion Group’s mission to bring unique, coveted hospitality brands to exceptional locations within the Miami market – including Gekko at SLS Lux in Brickell, Rosa Negra at Dua Miami in Brickell and Amara at Paraiso in Edgewater.

Located at 200 South Pointe Dr., CATCH Miami Beach is a rare freestanding restaurant in Miami Beach's prestigious "South of Fifth" community, which is also home to some of the most nationally renowned and highest grossing restaurants such as Joe’s Stone Crab, Papi Steak, Prime 112 and Carbone. The venue is situated in the bottom, commercial portion of the Continuum Towers, home to many celebrities with units going for upwards of $3,000 per square foot.

"CATCH Miami Beach embodies a unique combination of a critically acclaimed dining operator with strong financial backing and is situated in Miami Beach's coveted South of Fifth neighborhood — one of the most desirable real estate locations in the country," Sharrin explained.

CATCH Hospitality Group, founded in 2011, invested significantly in renovating the 20,630-square-foot space, which includes indoor dining and a rooftop terrace. The venue's design by Rockwell Group incorporates 1920s-inspired elements, reflecting Miami Beach's glamorous past.

JLL Capital Market’s Investment and Sales Advisory team representing the seller was led by Senior Managing Director Alex Sharrin, Senior Director Jeff Cicurel, Associate Noel O’Donnell and Analyst Joe Luebker.

Pegasus Investment’s Chief Executive Officer David Chasin and Managing Director Daylin Ackerman represented the buyer.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Under President Robert Rivani's visionary leadership, Black Lion epitomizes elevated luxury and innovative disruption in commercial real estate. Their approach is bold, dynamic and transformative as they redefine industry standards. From pioneering top-tier hospitality brands to revitalizing urban landscapes, each project leaves a lasting mark, exceeding expectations and inspiring change. Committed to innovation, Black Lion sets a new standard where the extraordinary is the norm.

River Oaks Properties, established in 1959, has grown to become a leading shopping center developer in El Paso, boasting a portfolio of over 350 properties. With a focus on strategic investments in high-traffic areas and a commitment to quality construction and proactive management, the company has built a reputation for excellence while fostering long-term partnerships with local and national businesses.