Osaka restaurant space in Brickell sells for $6M

A commercial space leased to the Peruvian restaurant Osaka traded hands for $5.9 million.

North Miami-based Lizmar International sold the 5,040-square-foot space to Speed Plaza, a Florida company led by Carlos Tovar and Luis Meir. The two commercial condos at 1300 Brickell Bay Drive in Miami are on the ground floor of the condo tower Brickell House. The restaurant has an additional roughly 800-square-foot terrace.

Osaka isn’t going anywhere. The restaurant, the first U.S. outpost for Osaka Cocina Nikkei, has eight years left on its lease, according to Fortune International Realty agent Luis Gautier. Fortune brokered the lease in late 2017 and Gautier represented the buyer in the latest sale. Osaka opened in late 2019. Its other locations are in Lima, Buenos Aires, São Paulo, Quito, Bogotá and London.

Gautier said the buyer, a Mexican group, financed its purchase with a $2 million loan from InterAudi Bank.

The lease generates a net operating income of about $262,000 with 3 percent annual increases, according to a Loopnet listing.

The restaurant, with floor to ceiling windows, comes with eight parking spaces and valet.

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