Darden sells Olive Garden in Cutler Bay for $5.5M
1-acre property last sold for $1.5M in 2012
September 21, 2015 11:15AMBy Katherine Kallergis
Olive Garden in Cutler Bay
An Olive Garden in southwest Miami-Dade has sold for $5.5 million, or 785,714 unlimited soup, pasta and breadsticks meals.
Darden sold the Coral Bay property, at 20345 South Dixie Highway, according to Miami-Dade County records. The 7,668-square-foot building sits on just more than a 1-acre lot and is near the Southland Mall, which is leased and managed by Gumberg Asset Management Corp.
Darden owns the Olive Garden, Yard House, Seasons 52, The Capital Grille, Bahama Breeze and Longhorn Steakhouse brands. The company owns and operates more than 1,500 restaurants, according to its website.
A Miami Beach-based LLC, led by local investor Judith Herman, was the buyer. The property last sold for $1.5 million in 2012, marking a nearly fourfold increase, according to Miami-Dade County records.
Source: The Real Deal