CBRE Tapped to Market Marquee Miami Development Site
CBRE announced it is marketing downtown Miami’s largest remaining development site for $500 million, offering more than 10 million square feet of development potential. The 6.6‑acre property in the Park West neighborhood, known as the Miami Business & Entertainment District, is positioned for a large-scale mixed-use development that also allows up to 6,602 residential units across residential, office, hotel, and retail uses. The site is located at 1151 NW 1st Ave.
Robert Given, Brad Capas, Troy Ballard and James Quinn with CBRE are representing sellers Marc Roberts of the Marc Roberts Companies and Michael Simkins of Lion Development, co-developers of the adjacent E11ven Club Hotel & Residences, E11even Club Residences Beyond, and West Eleventh Residences Miami, in marketing the development site.
“At a price of $500 million, we expect strong interest from a broad range of global investors and developers seeking to transform this site into Miami’s next skyline‑defining mixed‑use development,” said CBRE’s Robert Given.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout