In Case You Missed It: CRE Sources Reports on My New Listing in Miami’s Little River
On Feb. 27, CRE Sources wrote about an industrial property I just listed for $10 million in the area of the proposed $1 billion Magic City Project in Miami’s Little River. Magic City is promising to transform a section north of downtown Miami prime for redevelopment. Some property owners are already putting their properties on the market to capitalize on the evolution of the neighborhood. My listing is located between Rail 71, Miami Ironside and Junction Lofts. The 2.42-acre industrial property has a price tag of $209.85 per square foot and represents a value-add opportunity in an up-and-coming market.
Located at 240 NE 72nd Street, the property consists of 48,796 of gross leasable space situated on 105,200 square feet of land. Miami’s Little River District is an industrial district north of Midtown Miami, the Design District, and Wynwood, west of Biscayne Boulevard and East of I-95. The area once was dominated by abandoned warehouses, rag shops, and storefront churches is now going through a transformation fueled by innovative projects like Magic City. This proposed 17-acre mixed-use technology and culture-driven development will include a 30,000-square-foot Magic City Studios and a 15,000- square-foot innovation center with startups, co-working space and other collaborations; an office tower; retail space; workforce housing and possibly a hotel.
To read the entire article visit here