Melo Group Acquires 2.8-Acre Development Site In Miami For $211.5M From Swire Properties

Swire Properties sold a 2.8-acre development site located at 700-799 Brickell Avenue in Miami. The property was sold for $211.5 million in an all-cash deal. The previous plans for the site included a 1,000-foot One Brickell City Centre tower, which have since been scrapped.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $211,500,000
• Buyer: Martin Melo, Jose Luis Ferreira de Melo & Carlos Melo - Melo Group
• Seller: Henry Bott - Swire Properties
• Brokers: Robert Given & Troy Ballard - CBRE
• Acres: 2.8

Robert Given and Troy Ballard of CBRE represented the sale of the property. Melo Group has not yet announced any development plans for the recently acquired site.