MIAMI MIXED-USE SITE SELLS FOR $18.5M

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MIAMI — A 1.29-acre mixed-use development site at intersection of Coral Way and South Miami Avenue in Miami has traded for $18.5 million. South Miami Ave LLC sold the site, which is approved for the development of a 556-unit residential tower, 15,049 square feet of retail space and 38,357 square feet of office space, to Related Group. The site is close to the Mary Brickell Village and Brickell Citi Centre projects as well as I-95 in Miami’s Brickell Financial District. Manny de Zarraga and Jaret Turkell of HFF represented South Miami Ave LLC.

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