Miami Condo Market and Lifestyle Updates
Brickell City Centre May Acquire Two More Properties

Brickell City Centre May Acquire Two More Properties

by Sep Niakan | May 30, 2014

Swire Properties plans on purchasing 22,000 more square-feet for the upcoming Brickell City Centre project.

Commissioners will vote at their next meeting to determine if they will sell Swire two properties, located at 602 and 614 South Miami Avenue, for the City Centre project. The city would spend $4.9 million to purchase the properties, one of which is the office of Florida’s Department of Juvenile Justice, from a state agency.

Swire would give $4.2 million for the property, and the remainder of the price would be covered by $700,000 in street easement fees that the developer would provide.

Once the purchase is complete, the city would turn around and sell the plots to Swire for $4 million.

Swire plans on using the extra property to “enhance the public right of way” around the Brickell City Centre.

 

Source: therealdeal.com

Photo credit: Brickell City Centre - brickell-citicentre.com

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