A significant real estate transaction has occurred in Miami’s Brickell neighborhood, with a developer from Dubai acquiring a prime parcel of land at the northern end of Brickell City Centre. The sale marks the completion of Swire Properties’ divestment of all developed components and adjacent properties within the mixed-use complex.
Dubai Developer Acquires Key Brickell City Centre Parcel
A Dubai-based developer has purchased the North Squared site at Brickell City Centre for $45 million. The transaction, officially recorded in Miami-Dade records, signals a new chapter for the prominent location. The buyer, Kerzner International FL Holdings LLC, is known for its flagship Atlantis brand, suggesting potential luxury development.
Planned Development and Site Details
The 43,161 square foot property, located at 9 SE 6 Street, is slated for a substantial development project. According to official documentation, the new owner plans to construct up to 1.1 million square feet of floor area. This development is expected to include:
- 350 residential units
- 180 lodging units
- Ground-floor retail and commercial spaces
- Necessary parking, optimized through zoning allowances and the Brickell City Centre’s specific area plan.
A temporary fire station currently situated on the site will be relocated as part of the transaction’s terms.
Swire Properties Completes Brickell City Centre Sales
This acquisition by the Dubai developer signifies the final sale of properties by Swire Properties within the Brickell City Centre development. Swire Properties has now successfully sold all components of the mixed-use project, including condominium, hotel, office, and retail spaces, as well as two adjacent parcels it previously held. This concludes Swire’s involvement in the landmark development.