As the only hotel connected to the Miami Beach Convention Center, the 800-room hotel will dramatically increase the City’s ability to attract major national and international convenings.
Cushman & Wakefield’s Mark Gilbert, Adam Feinstein and Mitchell Halpern will lead marketing for the 563,000-square-foot retail center.
The JV completed the 71,000-square-foot retail project in 2024 and generated substantial leasing activity before the sale.
The project will deliver 14 studios, 35 one-bedroom units and 6 two-bedroom units.
The transaction included both a deed-in-lieu-of-foreclosure and a conventional sale supported by new financing.
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The sale price breaks down to approximately $309 per square foot.
Gordon Messinger and Randy Carballo with CBRE represented the landlord in all lease negotiations.
The company intends to invest an additional $10 million into refurbishing the property.
The development includes a new 12,210-square-foot campus for Barry University’s College of Nursing and Health Services.