Miami Condo Market and Lifestyle Updates
Retail Space in Brickell Heights Sells for Over $800 per Square-Foot

Retail Space in Brickell Heights Sells for Over $800 per Square-Foot

by Sep Niakan | September 24, 2014

The Related Group and Crescent Heights have a deal to sell almost 30,000 square-feet of space for retail use in the Brickell Heights project on South Miami Avenue.

Two separate buyers are purchasing the space.

One buyer is an investor from New York who has contracted to buy over 21,000 square-feet of space for $17.5 million, which is over $800 per square-foot. Most of the space is on the second floor of Brickell Heights, with only 9,800 square-feet on the first floor.

The second buyer is a group of South American investors who are paying $5.4 million for a little over 8,000 square-feet of space on the first floor, which is almost $700 per square-foot.

The purchasing parties will not close the deals until construction finishes in the end of 2016.

 

Source: exmiami.org

Photo credit: Brickell Heights  exmiami.org,

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