DOCSLIB.ORG

Offering Memorandum Offering Welcome to Downtown MIAMI

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Offering Memorandum Offering Welcome to Downtown MIAMI www.54Flagler.com Development Opportunity in the Center of Downtown offering memorandum offering Welcome to Downtown MIAMI INVESTMENT CONTACTS MIKA MATTINGLY BRADLEY ARENDT CECILIA ESTEVEZ COLLIERS INTERNATIONAL Executive Vice President Vice President Associate SOUTH FLORIDA, LLC +1 786 517 4996 +1 773 343 4695 +1 786 942 4503 801 Brickell Avenue, Suite 850 [email protected] [email protected] [email protected] Miami, FL 33131 This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, rep- resentations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). ©2018. All rights reserved. CONTENTSCONTENTS THE OFFERING 01 PROPERTY OVERVIEW 02 WALKABILITY & CONNECTIVITY 03 MARKET DRIVERS 04 MARKET COMPS 05 PAGE 3 Investment Summary ADDRESS: 54 W Flagler Street Miami, Florida FOLIO: 01-0112-030-1060 LOT SIZE: 18,000 Square Feet PRICE: To be determined by Market OFFERINGOFFERING Colliers International Urban Core Division is pleased to present the opportunity to acquire a 18,000 square foot development nestled in the core of Downtown Miami. In the last three years 2.9 Billion dollars has transacted just in the central business district of downtown. Institutional and international buyers have become part of the mix. Downtown is poised to become a thriving international neighborhood. This prime site is situated across the street from the Miami Dade Courthouse, steps from Miami Central station and a few blocks from Miami Dade College. This prime property represents the best of Downtown’s district, and is uniquely positioned to take advantage as the area transforms into a thriving neighborhood where residents live and work, in addition to play. PAGE 5 ZONINGZONING The 54 Flagler site is zoned T6-80 O under the Miami 21 zoning ordinance. The 18,000 SF site is subject to the following restrictions: FAR The Floor Area Ratio may not exceed twenty-four (24) times the gross lot area . Unlimited additional Public Benefit Bonuses square footage is permitted. DENSITY 1,000 units per acre. HEIGHT The maximum height for T6-80 zoned land is eighty (80) stories, there is no height restriction with Public Benefits Bonuses. OFF STREET PARKING REQUIREMENTS Parking for residential uses located within 1,000 feet of a Metrorail or Metro mover station shall not be required. For lodging uses, a minimum of one (1) parking space for every second lodging units is required and one (1) additional visitors parking for every fifteen (15) lodging units. For office and commercial uses, a minimum of three (3) parking spaces for every 1,000 square feet of office use is required. BUILDING SETBACKS Principal Front - 10 ft. min. Secondary Front - 10 ft. min. Side - 0 ft. min. Rear - 9 ft. min. OFFERING MEMORANDUM PAGE 7 CONVENTION CENTER HOTEL I 95 MIAMI CENTRAL STATION OFFERING MEMORANDUM MIAMI WORLD CENTER MUSEUM PARK BAYFRONT PARK AAA ARENA FLAGLER STREET MIAMI DADE COLLEGE METRO MOVER NORTH MIAMI CENTRAL STATION CENTRO WEWORK FLAGLER STREET OFFERING MEMORANDUM BRICKELL CITY CENTER MIAMI COURTHOUSE SOUTH OFFERING MEMORANDUM WALKABILITYWALKABILITY In the late 1800s, industrialist Henry Flagler opened Miami’s first hotel, catering to the wealthiest families in America. It grew into the city’s first main street and thrived until the late 1920’s’s, when war, depression, massive hurricane and suburban malls left Flagler Street like a Rip Van Winkle sleeping. A hundred years later a new breed of millennials flocking to the city center seeking a pedestrian lifestyle woke the sleeping urban core, poising Downtown for a drastic rebirth. There are only a few neighborhoods in Miami that allow for a true live work play environment and downtown meets all the criteria. Flagler Street is currently undergoing a $13 million dollar ‘Beautification Project’ to regain its status as a major signature street that will rival the likes of New York’s Fifth Avenue. A pedestrian-friendly, landscaped streetscape will reclaim the street’s legacy as the vibrant retail and business core of Miami. In revitalizing and improving Flagler Street, the project will fulfill the expectations of over 80,750 downtown residents, 220,000 workers, and visitors who desire the advantages of a dynamic urban center. PAGE 13 COURTHOUSECOURTHOUSE DISTRICTDISTRICT The Courthouse District includes several courthouses, including the historic Miami-Dade County Courthouse and a U.S. District Court, the city of Miami police headquarters, City, Cuunty, and State offices. The eponymous and most used county transit station, Government Center, serving Metrorail, Metromover, and Metrobus, is located in the bottom of the Stephen P. Clark Government Center building. Directly south of this is the main branch of the Miami-Dade Public Library System, as well as the History Miami Museum. The iconic Miami-Dade Courthouse has an estimated one million visitors per year with an additional 576 employees who work in the building. Plans recently made for the redevelopment, use and maintenance of the new Miami-Dade County Courthouse with the restart of the bidding process for developers interested in building a new civil courthouse. Miami-Dade County officials’ main goal for this project involves replacing the old facility with one that is more modern, clean, safe and in good condition. OFFERING MEMORANDUM All Aboard Two blocks West of 54 Flagler is Miami Central Station, a massive transit hub that will connect all existing public transportation systems including All COURTHOUSECOURTHOUSE Aboard Florida / Brightline high speed MIAMI rail service. MIAMI DISTRICTDISTRICT CENTRALCENTRAL STATIONSTATION PAGE 15 Rebirth of an THE NEW Urban Core DOWNTOWN OFFERING MEMORANDUM THETHE NEWNEW DOWNTOWNDOWNTOWN Downtown Miami is in the midst of a historic rebirth. The billions of dollars invested in major infrastructure projects will continue to catapult Miami into global relevance. These projects are transforming the urban fabric of this international destination, providing developers with a once-in-a-lifetime opportunity to capitalize on these new well-heeled customers or residents seeking an upscale urban lifestyle;e. Downtown Miami has almost as many historic buildings as Miami Beach, which adds an authentic appeal, defining its sense of place. Population in the area has also exploded growing from 30,296 people in 2000 to 65.307 people today. This will serve as a solid foundation when developers begin to capitalize on the urban core’s generous zoning and launch vertical development. PAGE 17 VACANT LOT 6,000 SF LOT / T6-80 O $4,000,000 / $667 PSF FEDEX DOWNTOWN MIAMI 51,561 SF LOT / ZONED T6-80-O $37,250,000 / $722 PSF LAND ASTON MARTIN SITE 48,298 SF LOT / ZONED T6-80-O $125,000,000 / $2,588 PSF LAND OFFERING MEMORANDUM 1000 MUSEUM SITE 40,918 / ZONED T6-80-O $33,000,000 / $806 PSF LAND UNITED METHODIST CHURCH 50,244 SF LOT / ZONED T6-80-O $55,000,000 / $1,095 PSF LAND COMPARABLE LAND SALES LAND COMPSPAGE 19 900 BISCAYNE BAY 900 BISCAYNE BOULEVARD $70 PSF, NNN CVS AT MARINA BLUE 888 BISCAYNE BOULEVARD $57 PSF, NNN 35 NE 1ST AVENUE 35 NE 1ST AVENUE $75 PSF, NNN CENTRO 151 SE 1 STREET $70 PSF, NNN BRICKELL CITY CENTRE 701 S MIAMI AVENUE $100 - $160 PSF, NNN OFFERING MEMORANDUM RETAIL COMPS ALFRED DUPONT BUILDING 169 E FLAGLER STREET $55 - $70 PSF WHOLE FOODS COMPARABLE RETAIL LEASES 40,921 SF COMPARABLE RETAIL SALES $19,630,000 / $479 PSF LA EPOCA 46,912 SF $19,500,000 / $415 PSF RETAIL COMPSPAGE 21 HUNTINGTON BUILDING COURTHOUSE EAST TOWER 168 SE 1 STREET 22 NW 1ST STREET $37 PSF $22,000,000 / $391 PSF CHASE BUILDING 150 SE 2 AVENUE $37 - $39 PSF, FS MIAMI TOWER 100 SE 2 STREET $220,000,000 / $355 PSF 200 BUILDING 200 SE 1ST STREET $33,850,000 /$225 PSF WELLS FARGO CENTER 333 AVENUE OF THE AMERICAS $219,960,755 / $292 PSF OFFERING MEMORANDUM OFFICE COMPS NEW WORLD TOWER 100 N BISCAYNE BLVD $84,000,000 / $188 PSF ONE BISCAYNE TOWER 2 S BISCAYNE BOULEVARD $37 PSF, NNN SUNTRUST INTERNATIONAL 1 SE 3 AVENUE COMPARABLE OFFICE LEASES $127,000,000 / $166 PSF COMPARABLE OFFICE SALES SOUTHEAST FINANCIAL CENTER 200 S BISCAYNE BLVD $516,000,000 / $421 PSF OFFICE COMPSPAGE 23 YOTELPAD 215 UNITS / 31 FLOORS 30% SOLD AS OF JUNE 2018 Current inventory of units range from 417 square foot studios to 708 square foot two bedrooms that start in the $300s. The OKAN TOWER average asking price PSF is approximately $650. 385 UNITS / 76 FLOORS 10% SOLD AS OF JUNE 2018 Current inventory includes 362 con- do-hotel units, ranging in size from 447 square feet to 1,245 square feet, on floors 36–50 will be marketed at $695 per SF. Condo units, ran- ging from 698 square feet to 2,071, CENTRO MIAMI starting from the 50th floor will start at $1.9M. 151 SE 1ST STREET 352 UNITS / 248,576 SF BUILDING BUILT 2016 / 706 SF AVG UNIT AVERAGE RENT PER SF: $2.60 ONE RIVER POINT 350 UNITS / 60 FLOORS 20% SOLD AS OF JUNE 2018 ASTON MARTIN Current inventory is being marketed at between $700 to 391 UNITS / 66 FLOORS $1,150 PSF, with the cheapest unit being priced at $870,000. 35% SOLD AS OF MAY 2018 The average asking price PSF is approximately $1,125. Current inventory is being marketed at between $800 to $1,400 PSF, with the cheapest unit priced at $800,000.
Load more

Recommended publications
  • Macy's Redevelopment Site Investment Opportunity
    Macy’s Redevelopment Site Investment Opportunity JOINT VENTURE OR 100% SALE FLAGLER STREET & MIAMI AVENUE, DOWNTOWN MIAMI CLAUDE PEPPER FEDERAL BUILDING TABLE OF CONTENTS EXECUTIVE SUMMARY 3 PROPERTY DESCRIPTION 13 CENTRAL BUSINESS DISTRICT OVERVIEW 24 MARKET OVERVIEW 42 ZONING AND DEVELOPMENT 57 DEVELOPMENT SCENARIO 64 FINANCIAL OVERVIEW 68 LEASE ABSTRACT 71 FOR MORE INFORMATION, CONTACT: PRIMARY CONTACT: ADDITIONAL CONTACT: JOHN F. BELL MARIANO PEREZ Managing Director Senior Associate [email protected] [email protected] Direct: 305.808.7820 Direct: 305.808.7314 Cell: 305.798.7438 Cell: 305.542.2700 100 SE 2ND STREET, SUITE 3100 MIAMI, FLORIDA 33131 305.961.2223 www.transwestern.com/miami NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE INFORMATION CONTAINED HEREIN, AND SAME IS SUBMITTED SUBJECT TO OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITION, WITHOUT NOTICE, AND TO ANY LISTING CONDITIONS, IMPOSED BY THE OWNER. EXECUTIVE SUMMARY MACY’S SITE MIAMI, FLORIDA EXECUTIVE SUMMARY Downtown Miami CBD Redevelopment Opportunity - JV or 100% Sale Residential/Office/Hotel /Retail Development Allowed POTENTIAL FOR UNIT SALES IN EXCESS OF $985 MILLION The Macy’s Site represents 1.79 acres of prime development MACY’S PROJECT land situated on two parcels located at the Main and Main Price Unpriced center of Downtown Miami, the intersection of Flagler Street 22 E. Flagler St. 332,920 SF and Miami Avenue. Macy’s currently has a store on the site, Size encompassing 522,965 square feet of commercial space at 8 W. Flagler St. 189,945 SF 8 West Flagler Street (“West Building”) and 22 East Flagler Total Project 522,865 SF Street (“Store Building”) that are collectively referred to as the 22 E.
    [Show full text]
  • Mdm Hotel Group Names Florencia Tabeni Vice President of Operations & Development for Its Hotel Division
    FOR IMMEDIATE RELEASE Contact: Israel Kreps Veronica Villegas Kreps DeMaria PR (305) 663-35443 [email protected] [email protected] MDM HOTEL GROUP NAMES FLORENCIA TABENI VICE PRESIDENT OF OPERATIONS & DEVELOPMENT FOR ITS HOTEL DIVISION MIAMI (September 15, 2016) – MDM Hotel Group announced today that it has named Florencia Tabeni Vice President of Operations & Development for MDM Hotel Group, MDM Development LLC’s hotel division, which has been managing and operating its own hotels for nearly 30 years. In her new role, Tabeni will be overseeing all aspects of operations for all of MDM Hotel Group’s properties. She will also oversee the areas of Sales & Marketing, Quality Assurance, Revenue Management, Human Resources, Information Technology, as well as hotel renovation developments for the company as a whole in order to ensure compliance, brand management and consistency throughout all of the hotel properties. Tabeni first began working with MDM in 2002 as the JW Marriott Hotel Miami’s Director of Sales and Marketing and subsequently was named as the hotel’s General Manager. In 2009, she became General Manager for the renowned JW Marriott Marquis Miami & Hotel Beaux Arts during the preopening and has since been overseeing the two hotels while growing the company’s team. “We are very proud to assign this important role to someone with Florencia’s expertise and long track record of success, both within our company and the hospitality industry,” says Alejandro Jerez, CFO of MDM Hotel Group. “She is highly respected by her peers and has been recognized as a proven leader. We look forward to continued success and expansion under her leadership.” Founded in 1990, MDM Development LLC began with the acquisition of the Miami Marriott Dadeland, along with the subsequent acquisition of the Datran I and II office complexes.
    [Show full text]
  • Miami Office Space Can Be Found by Those Who Search February 7, 2017 By: Carla Vianna
    Miami Office Space Can Be Found by Those Who Search February 7, 2017 By: Carla Vianna Businesses searching for space in Miami's urban core have more options than they might think. While vacancy rates are down across the board, significant chunks of space are available in several Class A buildings in downtown and the Brickell Avenue financial district. "There are more alternatives available for those companies that take the time to appropriately investigate the market," said Chris Lovell, a senior managing director with Savills Studley in Miami. Leasing space on an upper floor with a view may be difficult since only six buildings on Brickell have a full floor above the 20th story available for lease. For tenants that can live without the view, there is plenty of open space to choose from. Four downtown Class A buildings have at least 75,000 square feet of contiguous space available, one Class A building on Brickell has a 65,000- square-foot block — "and we don't have tenants of that size standing in line to the claim the space," Lovell said. Savills Studley has found many of the large available blocks are in older downtown buildings. "You're always going to have buildings that are going to have certain pockets available," said Tere Blanca, founder of Miami-based Blanca Commercial Real Estate Inc. She said the market is responding well to the new Miami Central project, which is under construction with 60 percent of its office component pre- leased. The mixed-use development will serve as Brightline's downtown train station and will add 286,000 square feet of office space in two buildings.
    [Show full text]
  • One Biscayne Tower Sublease
    Success achieved on every floor. Turnkey opportunity at One Biscayne Tower Class A office space located at2 Biscayne Boulevard, 22nd Floor, Miami, Florida. Rise above the rest. Situate your business on the 22nd floor of this 38-story tower. • 10,066 RSF • 14 Private offices • Available for with two corner immediate offices occupancy • Desirable exposed • Sublease Expires ceilings April 30, 2025 • On-Site Parking • Panoramic views • Rate is negotiable 10,066 RSF 2 Biscayne Boulevard Miami, Florida 22nd Floor Gallery In the center Miami’s downtown district 28 NW 7th St NW 7th St NE 6th St Port Blvd Restaurants Hotels Miamarina Pkwy Dr NW 6th St NE 6th St 1 Toro Toro at Intercontinental 20 JW Marriott Marquis 2 Ceviche 105 21 Intercontinental NW 5th St NE 5th St 3 Wolfgang’s Steakhouse 22 Kimpton EPIC Hotel 28 4 Fratelli Milano 23 Hotel Beaux Arts NE 4th St 15 27 5 Kone Sushi 24 Hyatt Regency 6 Eternity Roasters NW 3rd St NE 3rd St NE 1st Ave 7 Starbucks Others 25 American Airlines Arena Biscayne Blvd 8 NW 2nd St NE 2nd St Salad Box Biscayne Blvd 26 29 30 Miami-Dade County Courthouse 9 Union Cafe NE 3rd Ave 2 NE 2nd Ave 27 U.S. Bankruptcy Court NW Miami Ave SW Miami Ave NW 1st Ave NW Miami Ct NE 1st St 10 Il Gabiano NW 1st St 16 28 U.S. District Court 32 26 35 11 Zuma SE 3rd Ave 29 E Flagler St Dade County District Court 31 17 12 Boulud Sud SE 2nd Ave 34 SW 1st Ave 4 5 30 11th Judicial Circuit Court SE 1st Ave 13 Zest SE 1st St 7 31 Gusman Center for the Performing Arts 8 14 Whole Foods 18 6 9 32 Historical Museum of Southern Florida SE 2nd St 1 13 21 14 33 James L.
    [Show full text]
  • AVANT at Met Square
    january 2016 volume XVIII AVANT at met square the next generation of urban living SUSTAINED MOMENTUM The U.S. economy remains healthy, with more than 2.8 million new jobs added during the 12 months ending October 2015. U.S. homeownership continues to decline, and at 63.7% percent, hovers near historic lows. These positive trends are continuing to drive rental demand. The third quarter of 2015 was the seventh consecutive quarter of positive net unit absorption. On average, rent growth registered 5.2 percent in the major U.S. markets, and the vacancy rate was 4.3 percent, the lowest level of the current cycle. Industry analysts expect that new unit production will peak in 2016, before tapering through the end of the decade. The near term increase in new supply is expected to have only modest impacts on vacancy and rent growth. However, due to continued job growth and a steady influx of new renters, primarily millennials entering the rental market and aging baby boomers who increasingly find rental housing more attractive than homeownership, the market will continue to perform well. With these positive market forces at work, ZOM is poised for continued success in 2016. In Florida, we will complete lease-ups at Moda and Bel Air Doral in early 2016, and will begin delivering units at Monarc at Met 3, Baldwin Harbor, Delray Preserve, and Luzano. In Texas, our Tate project in Houston will also open its doors. In our Mid-Atlantic region, construction continues at Banner Hill in Baltimore, and we are working on several new projects in other Mid-Atlantic target markets.
    [Show full text]
  • OFFERING MEMORANDUM Miami, FL 33131 235 SE 1St Street Themiamiplaza.Com
    THE P LA ZA themiamiplaza.com MEMORANDUM 235 SE 1st Street Miami, FL 33131 OFFERING THE P LA ZA THE P LA ZA 235 SE 1st Street THE OFFERING Miami, FL 33131 he Plaza is a 81,000 SF office building Ton a 20,000 SF corner lot located in the heart of Downtown Miami and its most prominent corner. The site benefits from the most liberal mixed-use zoning in all of South Florida, T6-80-O, allowing up to 489,600 SF of development and 470 residential units. The Plaza is an amazing add value office building with tremendous future uses for development. Developers will benefit from the ability to receive temporary cash flow while waiting on the next cycle or plan approval. THE CORNER OF DOWNTOWN MIAMI THE P LA ZA PROPERTY SUMMARY + + Address: Lot Size: Building Size: Zoning: FLR Allowable FLR Allowable +Bonus Building Height: Building Height +Bonus: Allowable Units: Folio: 235 SE 1st St. 20,400/ 81,382 SF T6-80-O 489,600 SF Unlimited 80 Unlimited 470 01-0112-000-1020 Miami, FL 33131 0.47 Acres 6 7 FOUR SEASONS BRICKELL CITY INVESTMENT CENTRE ICON BRICKELL HIGHLIGHTS SOUTHEAST FINANCIAL CENTER WELLS FARGO CENTER MIAMI TOWER ASTON MARTIN JAMES L. KNIGHT RESIDENCES CENTER MET SQUARE CINEPLEX WHOLE FOODS CENTRO Covered Land with In-Place Income he Plaza is a prime opportunity to repurpose or add value to an existing Tclass C office building located in Downtown’s most highly trafficked corridor. The property is positioned to capture an already active-large tenant base with over 175,000 employees existing within Downtown’s LA EPOCA Central Business District.
    [Show full text]
  • Miami Cbd Large Blocks of Office Space
    RESEARCH MIAMI CBD AUGUST 2019 LARGE BLOCKS OF OFFICE SPACE 836 MACARTHUR CAUSEWAY 100,000+ SF Blocks 395 Southeast Financial Center Four Seasons Tower 200 S Biscayne Boulevard 1441 Brickell Avenue Ponte Gadea USA 9 Millennium Partners Management 1 1,225,000 RBA – 67.8% Leased 258,767 RBA – 98.1% Leased 133,120 SF Max Contig. 28,763 SF Max Contig. $53.25/RSF FS $60.00/RSF FS Citigroup Center 1221 Brickell 201 S Biscayne Boulevard 1221 Brickell Avenue Crocker Partners Rockpoint Group 2 809,594 RBA – 74.0% Leased 10 408,649 RBA – 86.1% Leased 95 127,634 SF Max Contig. 26,761 SF Max Contig. $48.00-$52.00/RSF FS $52.50/RSF FS Freedom PORT BLVD A1A Tower Wells Fargo Center 50,000 - 99,999 SF Blocks 333 SE 2nd Avenue AVE MetLife Real Estate Investments AVE 11 ND 752,845 RBA – 85.9% Leased ND SunTrust International Center 26,000 SF Max Contig. 1 SE 3rd Avenue BISCAYNE BLVD BISCAYNE $48.00/RSF FS N MIAMI AVE MIAMI N 2 NE NW 2 NW MiaMarina Pacific Coast Capital Partners MIAMI RIVER 3 440,299 RBA – 66.4% Leased 90,255 SF Max Contig. $38.00-$40.00/RSF FS 15,000 - 24,999 SF Blocks Brickell Office Plaza Brickell World Plaza Downtown 777 Brickell Avenue 600 Brickell Avenue 8 Padua Realty Company Elm Spring, Inc. 4 288,457 RBA – 74.8% Leased 12 631,866 RBA – 92.5% Leased 3 6 68,386 SF Max Contig. CLASS 24,138 SF Max Contig.
    [Show full text]
  • Carlos Lopez-Cantera, Statewide Chair 150 Alhambra Circle, Suite 925 Coral Gables, FL 33134 [email protected]
    Carlos Lopez-Cantera, Statewide Chair 150 Alhambra Circle, Suite 925 Coral Gables, FL 33134 [email protected] Southern District Manny Kadre, Conference Chair 133 Sevilla Avenue Coral Gables, FL 33134 (305) 567-3582 Ext. 224 [email protected] Georgina A. Angones University of Miami School of Law 1203 Santona Street Coral Gables, FL 33146 (305)284-6470 [email protected] Ellyn Setnor Bogdanoff Becker & Poliakoff 1 East Broward Blvd. Suite 1800 Ft. Lauderdale, FL 33301 (954)987-7550 [email protected] Reginald J. Clyne Quintairos, Prieto, Wood & Boyer, P.A. 9300 South Dadeland Boulevard, 4th Floor Miami, FL 33156 (305)670-1101 [email protected] Kendall B. Coffey Coffey Burlington 2601 South Bayshore Drive Miami, FL 33133 (305)858-2900 [email protected] 1 Vivian de las Cuevas-Diaz Holland & Knight 701 Brickell Avenue Suite 3000 Miami, FL 33131 (305) 789-7452 [email protected] Renier Diaz de la Portilla 1481 NW 22nd Street Miami, FL 33142 (305) 325-1079 [email protected] Albert E. Dotson, Jr. Bilzin Sumberg Baena Price & Axelrod LLP 1450 Brickell Avenue, 23rd Floor Miami, FL 33131 (305) 350-2411 [email protected] Peter M. Feaman 3695 West Boynton Beach Blvd., Suite 9 Boynton Beach, FL 33436 (561) 734-5552 [email protected] Robert H. Fernandez, Esq. Partner Zumpano Castro 500 South Dixie Highway Suite 302 Coral Gables, FL 33146 (305) 503-2990 [email protected] 2 Daniel Foodman Waserstein Nunez & Foodman 1111 Brickell Ave Suite 2200 Miami, FL 33131 (305) 760-8503 [email protected] Philip Freidin Freidin, Dobrinsky, Brown & Rosenblum P.A.
    [Show full text]
  • Vice 300 Biscayne Boulevard
    DOWNTOWN MIAMI FL VICE 300 BISCAYNE BOULEVARD CONCEPTUAL RENDERING SPACE DETAILS LOCATION GROUND FLOOR West block of Biscayne Boulevard between NE 3rd and NE 4th Streets NE 4TH STREET 38 FT SPACE Ground Floor 1,082 SF FRONTAGE 38 FT on NE 4th Street 1,082 SF TERM Negotiable (COMING SOON) POSSESION LEASE OUT Summer 2018 SITE STATUS New construction LEASE OUT CO-TENANTS Caffe Fiorino (coming soon), GOGO Fresh Foods (coming soon) and OXXO Care Cleaners (coming soon) NEIGHBORS Area 31, Fratelli Milano, CVI.CHE 105, Gap, Il Gabbiano, Juan Valdez Coffee, NIU Kitchen, Pollos & Jarras, Segafredo, Skechers, Starbucks, STK Miami, Subway, Ten Fruits, Toro Toro, Tuyo Restaurant, Victoria’s Secret, Wolfgang’s Steakhouse and Zuma COMMENTS VICE is a 464-unit apartment tower under construction in the heart of Downtown Miami Directly across from Bayside Marketplace and neighboring Miami Dade College, two blocks from American Airlines Arena, and adjacent to the College-Bayside Metromover Station Miami-Dade College has over 25,000 students on campus daily (COMING SOON) (COMING SOON) ADDITIONAL RENDERINGS CONCEPTUAL RENDERING CONCEPTUAL RENDERING CONCEPTUAL RENDERING Downtown Miami & Brickell Miami, FL AREASeptember 2017 RETAIL NW 8TH STREET NE 8TH STREET VICE AVENUE 300 BISCAYNE NE 7TH STREET NE 2ND HEAT BOULEVARD BOULEVARD MIAMI FL FREEDOM TOWER NW 6TH STREET PORT BOULEVARD MIAMI-DADE COLLEGE FACULTY Downtown Miami PARKING Movers NW 5TH STREET NE 5TH STREET 300 BISCAYNE BOULEVARDP MIAMI-DADE COLLEGE FEDERAL NE 4TH STREET NE
    [Show full text]
  • Miami Office Market Report
    2016 YEAR-END MIAMI OFFICE MARKET REPORT BLANCA COMMERCIAL REAL ESTATE | 4TH QUARTER 2016 MARKET REPORT | PAGE 1 MIAMI OFFICE MARKET STATS lanca Commercial Real Estate’s Q4 2016 research analyzed the four major office submarkets that drive the greater Miami- Dade County market: Downtown, Brickell, Coral Gables and Airport West. All told, these four submarkets comprise B approximately 27 million square feet of Class A and B office space in buildings greater than 50,000 square feet. Average Inventory Asking Rates YOY Submarket Buildings (SF) Vacancy (Gross $/SF) Absorption 4 MAJOR SUBMARKETS Downtown 19 6,728,218 17.2% $34.34 134,922 Brickell 25 6,481,990 11.7% $43.09 308,792 Coral Gables 41 5,645,853 11.3% $38.77 34,370 Airport West 66 8,283,873 9.1% $29.49 99,454 SUBTOTAL 151 27,139,934 12.3% $36.42 577,538 Aventura 9 975,024 4.3% $46.18 -25,643 Biscayne Corridor 5 723,791 28.8% $35.36 17,471 Coconut Grove 7 871,870 2.1% $33.92 26,618 Coral Way 6 439,225 5.3% $27.22 -6,306 Kendall 13 1,709,055 14.1% $31.78 -52,036 Medley 3 201,427 28.0% $22.27 4,421 Miami 4 387,117 0.7% - 55,545 Miami Beach 13 1,288,733 4.2% $43.84 14,462 Miami Lakes 10 592,428 20.2% $23.90 3,418 NE Dade 9 846,748 25.1% $22.23 55,734 South Dade 2 133,994 36.3% $21.75 3,005 SUBTOTAL 81 8,169,412 15.4% $30.84 96,689 TOTAL 232 35,309,346 14.6% $32.44 674,227 Multi-tenant, Class A & B Buildings > 50,000 SF BLANCA COMMERCIAL REAL ESTATE | 4TH QUARTER 2016 MARKET REPORT | PAGE 2 SUBMARKETS Miami’s major office submarkets account for 72% of total Class A & B office inventory and consist of Downtown, Brickell, Coral Gables & Airport West.
    [Show full text]
  • Met 1 Miami Brochure
    m e t ropolitan miami m e t ropolitan miami m e t ropolitan miami m e t ropolitan miami m e t ropolitan miami m e t ropolitan miami m e t r o p o l i t a nm e t ropolitan miami m e t ropolitan miami m e t ropolitan miami m e t ropolitan miami m e t ropolitan miami m e t ropolitan miami m e t r o p o l i t a n m e t ropolitan miami m e t ropolitan miami m e t ropolitan miami m e t ropolitan miami m e t ropolitan miami m e t ropolitan miami m e t r o p o l i t a nm e t ropolitan miami m e t ropolitan miami m e t ropolitan miami m e t ropolitan miami m e t ropolitan miami m e t ropolitan miami m e t r o p o l i t a n m e t ropolitan miami m e t ropolitan miami m e t ropolitan miami m e t ropolitan miami m e t ropolitan miami m e t ropolitan miami m e t r o p o l i t a nm e t ropolitan miami m e t ropolitan miami m e t ropolitan miami m e t ropolitan miami m e t ropolitan miami m e t ropolitan miami m e t r o p o l i t a n heads up, downtown! the renaissance of miami’s oldest neighborhood is on the move.
    [Show full text]
  • Why Downtown Miami's on the Up
    September 23, 2011 Circulation: 146,334 Why downtown Miami’s on the up By David Kaufman The neighbourhood has recovered due to foreign investment and has grown into a true cultural destination Of all the cities and all the neighbourhoods affected by America’s recent recession, few were hit harder than downtown Miami. An urban counterpoint to seafront South Beach, this 60‐block swathe of city‐centre property welcomed 22,500 new condominium units between 2003 and 2010. That’s almost double the number built during the preceding four decades combined, according to Condo Vultures, a real estate consultancy based in Bal Harbour. The newcomers were spread over 80 new buildings across “greater downtown Miami”, which includes Brickell Avenue, the Biscayne Boulevard Corridor and downtown itself. Much like in Dubai or Las Vegas, most downtown apartments were Downtown Miami, where new‐build, full‐ service condos now cost around $380 per sq ft – purchased off‐plan, and years from completion, during the 30 to 50 per cent less than before the 2008 development boom of the past decade. As prices rose in economic crash tandem with unfinished inventory, the resulting property bubble saw more than one‐third of the new apartments stand empty and unsold during the depths of America’s financial crisis in June 2009. Now, just over two years later, the downtown Miami market is once again on the move. Propelled by significant shifts in promotion strategies, price points and buyer types, a mere 11 per cent of newly completed condos remain unsold. It helps that tight credit lending has brought additional construction to a virtual standstill, allowing the market to absorb existing inventory.
    [Show full text]