Capital At Brickell Site Expected To Rival 700 Brickell Price

Jul 23, 2013 No Comments by

The Capital at Brickell site in Miami’s Brickell neighborhood is officially on the market.

The 2.78-acre site, located at 1420 S. Miami Ave., has already been approved for 1.3 million square feet of development. Under Miami 21, the city’s zoning code, the owner can go back and ask for as much as 3.2 million square feet of development, according to Robert Given and Gerard Yetming of CBRE, who are marketing the property.

As a result of the potential for greater density, Given said the property could fetch more than $100 million.

That’s a price that would eclipse the $64 million Swire Properties recently paid for the 700 Brickell site. Swire can build 1.1 million square feet of development on the 1.55-acre site.

Yetming said the focus of a lot of development in the Brickell corridor today is on South Miami Avenue, a main thoroughfare through the neighborhood.

 

Source:  SFBJ

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Industry News, Miami-Dade County Multifamily, Miami-Dade County Office, Miami-Dade County Retail, NA
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