November 8, 2018
Los Angeles-based CIM Group acquired a fully-entitled, 1.78-acre mixed-use development site in the Wynwood district of Miami for $16.6 million. The entitlements include roughly 30,000 square feet of street-level retail space, 71,000 square feet of office space, 257 residential apartment units and parking. CIM is co-developing the property with One Real Estate Investment.
Located at 2201 N. Miami Ave., the site has roughly 250 linear feet of frontage on N. Miami Avenue to the west, and fronts the Brightline Rail to the east. The site is well-positioned in Wynwood, a distinctive area in the urban core of Miami, nationally recognized as a center for arts, innovation and culture.
CIM has been involved in the greater Miami region for more than 10 years. That includes development involvement in such projects as Caoba, a 444-unit, 43-story apartment tower in the heart of downtown Miami. Caoba is part of the master-planned Miami Worldcenter, a project in which CIM is also an owner and co-developer.
For comments, questions or concerns, please contact Dennis Kaiser