Joint Venture Acquires Last Parcel Within Miami Worldcenter Campus for $17.5M, Plans Residential Tower
A joint venture between Aria Development Group and Merrimac Ventures has purchased the last available parcel within the 27-acre Miami Worldcenter campus, a $4 billion mixed-use development by Miami Worldcenter Associates.
The site, located one block from Brightline Miami Central at 33-55 N.W. 6th St., is known as The Miami Link.
Jack Lowell and Cecillia Estevez of Colliers represented the buyer in the transaction.
The seller, International Longshoreman Association, sold the 24,000-square-foot site for $17.5 million.
The labor union has owned the site for more than 45 years and previously operated a 5,130-square-foot building on the parcel. The buyer also recently acquired an adjacent site at 600 N.E. 1st Ave. to bring the total assemblage to 34,000 square feet. Aria and Merrimac are currently planning to develop 600 Miami Worldcenter, a condominium project comprising more than 600 for-sale residences.
OneWorld Properties is leading sales for the project on behalf of the developers.
Source: RE Business