June 13, 2016
The historic Walgreens Building, an Art Deco property in downtown Miami, just hit the market and is being positioned as a retail or adaptive re-use opportunity. The five-story, nearly 50,000-square-foot building located at 200 E. Flagler St. is at the nexus of a neighborhood re-urbanization effort that could produce a walkable high street.
A group of public and private interests envision creating a commercial anchor for downtown. The sales transaction, involving a historically protected structure, is expected to set the bar for future improvements.
The property is home to department store La Epoca, which was originally founded in Havana, and has been passed down through three family generations.
Colliers International’s Mika Mattingly and Gerard Yetming are handling the listing for seller Miami-based Habitat Development Corp. A listing price hasn’t been disclosed.