Developer Purchases Walgreens Site for a Potential Hilton in Brickell
May 12, 2015 May 12, 2015
Developer Baywood Hotels, based out of Maryland, is seeing some more action in Brickell.
Baywood recently finalized their $15.5 million purchase of a one-acre plot at 250 and 296 Southwest Seventh Street.
The seller was Walgreens, who purchased the property for $10 million back in February of 2014. Walgreens originally planned for the construction of a new pharmacy, and even hired architects to create renderings and plans for it.
Baywood purchased the site in order to develop it, which could potentially mean creating a Hilton on it. The developer signed a letter of intent stating that they would build a Canopy by Hilton in Brickell. However, Hilton representatives are still not sure if it will be at that location or another.
Baywood is also developing a Hilton Homewood Suites in the Brickell area as well. They purchased the former Hotel Urbano and intend to renovate it and make it into a Hilton Garden Inn.
Photo credit: Hilton - hiltonhhoners.com