1-Acre Parcel In Downtown Miami Goes On The Block For $175 Million
ONE Sotheby’s International Realty will handle the sale through an online auction starting December 3, with a live bidding event in New York on December 17.
ONE Sotheby’s International Realty will handle the sale through an online auction starting December 3, with a live bidding event in New York on December 17.
The firm occupies floors 41 through 43 of the office tower.
Sean Kelly, vice president at CBRE, said, “The submarket has attracted over 700,000 square feet of tenant relocations from other parts of Miami, as decision-makers prioritize proximity to home. Additionally, more than 150,000 square feet of new-to-Florida tenants have selected Coral Gables for their Miami headquarters.”
At full build-out, Midtown Park will feature six towers, including four residential buildings and two office structures.
This sale marks a lucrative exit for the sellers, who bought the tower about seven years ago for $248.5 million.
The dining venue will span over 20,000 square feet across three levels of indoor and outdoor space.
Colliers Vice Chair Jonathan Kingsley and Associate Zach Smith collaborated with Jodie Poirier, president of Occupier Services, and Executive Vice Presidents Ian Gilbert and Bob Rosenthal to represent the tenant in the transaction.
Leasing activity in the Brickell submarket remains exceptionally robust in 2025, with over 200,000 square feet leased year-to-date.
ADP’s Miami office will relocate from its current location at 10200 Sunset Drive in Miami.
The deal breaks down to about $603 per square foot.
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