Mack Real Estate Group Buys Office Building At 3550 Biscayne For $19 Million

An office building at the corner of one of Miami’s most congested intersections has been purchased by New York’s Mack Real Estate Group.

The sale of the Regions Bank building at 3550 Biscayne, which sits on 30,307-square-feet of land, closed for $18.75 million. The sellers, a partnership between Terra Group and Avra Jain, bought it in 2012 for $7.8 million.

Mack also purchased a parcel down the block from Terra, where they plan to build a project called District 36. Terra had planned to develop up to a million square feet on the two parcels that were sold to Mack.