Brickell Heights Retail Space (Mostly On Second Floor) Sells For $815 Per Square Foot
Related Group and Crescent Heights have a deal to sell 29,499 square feet of retail space in Brickell Heights on booming South Miami Avenue, according to TRD.
There are two separate buyers. A New York investor has a contract to buy 21,484 square feet of space for $17.5 million, or about $815 per square foot. The majority of the space is on the second floor, with just 9,800 square feet on the ground level.
In the second deal, a group of South American buyers have a deal to pay $5.4 million for 8,015 square feet of ground floor space, which equates to $674 per square foot.
The deals won’t close until construction is complete, expected in the third quarter of 2016.