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CASE STUDY

MIAMI CENTRAL

property

Address: 173 NE 1st Street + 100 North Miami Avenue
Submarket:
Downtown Miami

Property Type: Development Site
Sold Price: $23,375,000
Represented: Buyer

Process: We negotiated the retail leases, so in five years all tenants would have kick – out clauses.

Challenges: Miami Central consists of small street retail, siting on large land parcels, which allow for massive development. Some of the leases were very long and discouraged buyers.

Outcome: This allowed the sites to continue generating revenue, while entitling them for future development.

Date Sold: 12/22/2021
Building Size: 50,197 SF
Lot Size: 28,750 SF

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