CBRE Markets Large Development Site Along Miami River
CBRE has been engaged to market the Miami River Walk Development site, a 6.31-acre site with 1,041 feet of water frontage on the Miami River.
Located at 1001 NW 7th Street in Miami, the site is ideally positioned within one mile of Miami’s two largest employment centers – Downtown/Brickell and the Health District – and will capitalize on the continued development and growth westward from downtown. CBRE is representing the seller.
“River Walk offers a one-of-a-kind opportunity to control one of the largest remaining waterfront parcels on the river,” said Gerard Yetming, Senior Vice President of CBRE. “The Miami River corridor has rapidly become a highly desirable location for both residential and mixed-use development as the value of frontage on the Miami River is finally becoming realized.”
The site has an approved Major Use Special Permit (MUSP) for the development of two towers with 744 residential units, 9,400 square feet of retail and 1,076 parking spaces. River Walk’s current zoning would allow for a total approved development footprint of over 1.3 million gross square feet including 946 residential units.
River Walk is a short trip up the river from well-known restaurants such as Casablanca Seafood Bar & Grill, Garcia’s Seafood Grille & Fish Market, and Sea Salt and Pepper Brasserie, an exclusive restaurant known for frequent celebrity sightings. It is also in walking distance to the Miami Marlins’ new ballpark and across the river from the historic Spring Garden Neighborhood.
“With Downtown/Brickell nearly built out, developers have been showing an increasing interest in the area along the Miami River,” Yetming added. “With two major mixed-use projects planned along the river, River Walk is perfectly suited with its Miami River frontage and location to take advantage of the city’s westward expansion and the rebounding residential, office and retail markets.”
Gerard Yetming, Robert Given, Zachary Sackley, and Mary Kate Swann of CBRE’s South Florida Multi-Housing Group are marketing the property.
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