CBRE Hired To Market Mixed-Use Development Site In Miami’s Edgewater Neighborhood

Oct 21, 2019 No Comments by

CBRE has been hired by Israeli firm Sapir Corp., Ltd. to sell Miami 18, a 1.47-acre high-rise development opportunity in Miami’s Edgewater neighborhood. Located at 1768 Northeast 2nd Court, the site can accommodate a mixed-use development project with a variety of uses, including multifamily, senior living, hotel, office, and retail components.

CBRE’s Chris Wood and Jason Spalding are spearheading marketing efforts of Miami 18.

 

“The property consists of nearly an entire city block,” said Wood. “We are looking to source a buyer with a strategic vision for the site that will be able to maximize its potential.”

The Miami 18 site provides a development opportunity of at least 1.4 million sq. ft. to create a high-rise vision west of the Biscayne Bay. The Edgewater neighborhood recently transitioned into an area of high demand due to its proximity to shopping destinations, entertainment and employments hubs in Wynwood, Midtown, Brickell, Downtown Miami and the Design District.

 

“We invested in this Edgewater site several years ago recognizing its emergent location,” stated Baruch Itzhak, CEO of Sapir Corp. “The Edgewater submarket continues to evolve into Miami’s newest hotspot with a convergence of culture and commerce. With more businesses moving in, the walkability of the area makes for a perfect live, work and play environment for today’s busy professional.”

Miami 18 also has great access to all major highways, including Interstate 195, the Venetian Causeway, Interstate 395 and Interstate 95, as well as local and regional rail transportation (Metromover’s Adrienne Arsht Center Station, Metrorail’s Culmer Station and Brightline’s Virgin MiamiCentral Station).

The Miami 18 development site is located within a designated Qualified Opportunity Zone, providing additional opportunity for tax-advantaged investment for qualified buyers.

A 1,649 sq. ft. portion of the building situated at 210 Northeast 18th Street is currently occupied by Mignonette Downtown, an oyster bar and seafood restaurant that opened in 2014.

 

 

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