MIAMI—Some were angry. Some were outraged. Some didn't care. LeBron James' decision not to continue playing all-star basketball for the Miami Heat drew plenty of reactions.
But what will it mean for Downtown Miami's commercial real estate market? Think about it for a minute. James put a positive spotlight on Downtown Miami in a way that no other professional sports star—or any other single individual—has in our era.
The AmericanAirlines Arena has hosted the NBA Finals for four consecutive years. A Miami Downtown Development Authority (DDA) study reveals the Heat, the arena and the urban core's economic impact on the area has totaled a whopping $1.4 billion a year.
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