MIAMI—The former MacArthur Diary site in Miami has traded hands for $8.5 million. Jersey Art Holdings, a company led by Moishe Mana, a prolific land purchaser who invested in a string of Flagler commercial real estate properties last year, acquired the asset.

Avison Young principal John K. Crotty, Jay Ziv, senior vice president, and Michael T. Fay, principal and managing director of the Miami office, represented the seller, Paradise Dairy Acquisitions. The 5.32-acre development site sits at 2451 Northwest 7th Avenue, next to the Health District and Wynwood.

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