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Brickell is certainly no stranger to audacious real estate developments – located in the heart of the vibrant Miami Metropolitan Area, the urban community hosts one of the largest collection of high-rises in the country, with at least one new building being added every year.
According a recent report by Curbed Miami, a local real estate news site, Brickell will soon welcome yet another big development. Jorge Perez, CEO of the prominent Related Group, has just spent an eye-watering $100 million to acquire four acres of prime Brickell real estate located on 444 Brickell Avenue, between Brickell Avenue and the Miami River.
The site currently includes the headquarters of Capital Grille and an office of the U.S. Citizenship and Immigration Services. Due to its central location and adjacent waterfront, it’s long been one of the most sought after parcels of land in Miami-DadeCounty. Needless to say, The Related Group no doubt has big plans for this opportune location.
As the South Florida Business Journal noted:
“It’s no surprise Related would be the buyer because it built the 1,800-unit condo Icon Brickell directly to the east and across Brickell Avenue. Related is also the most prolific developer in the Brickell area, with several projects under construction or in the planning stages, including the SLS hotel and condo projects.
The 444 Brickell deal is the second high-profile Brickell Avenue property to trade hands in the last four months, with Swire paying more than $64 million over the summer for 700 Brickell. Swire, which is building Brickell CityCentre, plans a high-rise tower for the 700 Brickell site.”
It’s worth nothing that The Related Group’s nearby Brickell Condos, such as the Icon Brickell and 500 Brickell, rank as some of the finest in the world. The developer is thus expected to invest even more in outdoing its already high standards.
Clearly, it’s a good time to be a buyer, seller, or investor in Brickell. The community continues to sizzle with activity and opportunity for developers and residents alike. To learn more about the rewarding market, call Brickell.com at 305.379.0203.