May 13, 2020
A former medical manufacturing facility on a combined 2.27-acre assemblage in Miami’s vibrant Wynwood Arts District traded hands for $18.5 million. The site is made up of eight parcels that originally had five buildings totaling 51,205 square feet. The buyer plans to redevelop the assemblage, which is uniformly zoned T6-8 and allows for higher density mixed-use development.
The centrally-located sites included in the sale are at 2141-2115 N. Miami Ave., 2150-60 N. Miami Ave., 38 NW 22nd St., and 2155 NW Miami Court.
Cushman & Wakefield’s Robert Given, Troy Ballard, Miguel Alcivar, Greg Masin, Frank Begrowicz and Jason Hochman arranged the disposition on behalf of the corporate seller. The buyer, PRH Investments, LLC, was represented by David Colonna of FIP Realty.
“As Wynwood continues to develop and mature into a world-class hub for the arts and creative businesses, opportunities to acquire large development sites are growing harder to come by,” said Alcivar.
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