BREAKING: Genting Group To Sell Prime Downtown Miami Waterfront Property For $1.225 Billion USD To SmartCity Miami LLC
The site is the largest undeveloped waterfront property in Miami’s urban core.
The site is the largest undeveloped waterfront property in Miami’s urban core.
Amanda Montanez and Tom Capocefalo of Savills represented the buyer, BF Aerospace, in the Sunrise building transaction.
The sale closed at a record $784 per square foot.
The purchase represents the expansion of the companies’ manufacturing facility from an 18,000-square-foot location in Fort Lauderdale to more than double the space at the new site in Pompano Beach.
The parcels total ±19.4 acres.
In the less than 24 hours since Bloomberg first reported the listing, investors from the U.S., Latin America, Europe, the United Arab Emirates and Canada have already expressed interest in acquiring the site.
The parcels sold for a total of $7 million which, coupled with the recently acquired 1.6-acre riverfront property on 7th Street, brings Newgard’s total land investment to $57.5 million.
She will champion the growth of the investor services business for Avison Young in the United States and concentrate her efforts on building and fortifying the firm’s network of investors in multiple service lines nationwide.
The JLL brokerage team of Managing Directors Steven Hurwitz and Doug Okun and associate Madeline Fine are spearheading the office leasing at the property.
The medical office building is leased long-term to the University of Miami (UM) Hospital.
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