Drew Sparacia Of GBX Group And Melissa Wyllie Of Florida Trust Acquire Historic Miami Properties

This mixed-use property comprises two addresses: 108 South Miami Avenue and 235 Southeast First Street, situated in Miami, covering a total area of 109,000 square feet on 0.84 acres. The portfolio, with an estimated market value near $21.8 million, features historic buildings that are set to be restored and repositioned for commercial use.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: Not disclosed
• Address: 108 South Miami Avenue & 235 Southeast First Street
• Market: Miami
• Square Footage: 109,000
• Acres: 0.84
• Buyers: Drew Sparacia - GBX Group; Melissa Wyllie - Florida Trust for Historic Preservation

GBX Group entered the Miami market through the acquisition of these historic properties in partnership with the Florida Trust for Historic Preservation, which included preservation easements. The intention behind this acquisition is to reflect the growing demand for adaptive reuse of historic assets in Miami, with plans to restore and enhance the properties for future commercial endeavors.