News Update: May 15, 2014
Swire about to buy more land for City Centre
Quote:
Swire Properties is on the verge of picking up another 22,000 square feet for its Brickell City Centre development.
Miami commissioners are expected to vote next week on a resolution authorizing Swire’s purchase of two parcels at 602 and 614 South Miami Avenue. The city plans to spend about $4.9 million to acquire the properties from a state agency. Swire would kick in nearly $4.2 million for that investment, with the rest of the purchase price covered by $700,000 in street easement fees provided by the developer.
Once the city completes its purchase, it would immediately sell the properties to Swire for $4 million, according to exMiami. One of the parcels is home to an office of Florida’s Department of Juvenile Justice.
Swire intends to use the properties to “enhance the public right of way” around City Centre.
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http://therealdeal.com/miami/blog/20...r-city-centre/