Shorty’s BBQ sells Doral property for $ 6 million

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Shorty’s BBQ property in Doral sells for $ 6 million (Shorty’s BBQ, iStock)

In an off-market deal too tasty to be left out, the senior executive of Shorty’s BBQ sold the local chain’s Doral property for $ 6.1 million.

Doral Restaurant Investments LLC, managed by Jair Luis Gomes Fontes of Miami-based Belisana Investments, purchased the 1.1-acre site at 2255 Northwest 87th Avenue, according to records.

The vendor is an entity managed by Mark Vasturo, CEO of Shorty’s BBQ, based in Kendall. The buyer took out a $ 4.1 million loan from Vasturo’s entity, Shorty’s IV.

Vasturo told The Real Deal that Shorty’s BBQ did not intend to sell his Doral property until contacted by a buyer’s representative. In 2001, Shorty’s IV purchased the 1.1-acre property for $ 1.1 million and completed the 7,511-square-foot restaurant a year later, according to records.

“We received a random call from an interested party who knew this investor was looking for [a restaurant property]”Vasturo said.” They almost bought another piece of land nearby. We told them it’s not really for sale, but you can bid.

The offer for real estate was “too good to be turned down,” Vasturo added.

For now, Shorty’s BBQ will continue to operate at the Doral site, but the new owner plans to set up a different restaurant in the space, Vasturo said. “It’s fluid,” he says. “We could stay another two, three months or a longer term deal. We will stay open as long as it makes sense. “

Vasturo said that Shorty’s BBQ may also consider leasing another space in Doral and that all employees at the location sold have been offered jobs at three other Shorty’s BBQ restaurants. The Company owns the real estate from its Davie location at 5989 South University Drive. Shorty’s II, also managed by Vasturo, paid $ 440,000 in 1987 for the property.

The barbecue chain rents its other two locations in West Miami and Kendall, where the original restaurant has operated for 70 years. Shorty’s BBQ at 9200 South Dixie Highway opened in 1951 as a log cabin-style restaurant, according to the company’s website. Nineteen years later, the building burned down and founder EL “Shorty” Allen rebuilt an almost exact replica in its place.

Recently, several top restaurant properties in South Florida have been sold. Two companies linked to Little Havana developer Bill Fuller have acquired a stake in the historic Polynesian-themed Mai Kai restaurant in Oakland Park. The new partnership paid $ 7.5 million for real estate at 3599 North Federal Highway.

And Speed ​​Plaza, a Florida-based company run by Carlos Tovar and Luis Meir, paid $ 5.9 million for Brickell House’s two commercial condos in Miami. The ground floor spaces of 1300 Brickell Bay Drive are currently leased to the Peruvian restaurant Osaka.


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