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Miami Investor Makes Big Bet on 'Last-Mile' Downtown

“Covered land opportunities in South Florida are in extremely high demand.”

By Jennifer LeClaire | jenniferleclaire | Updated on July 12, 2017

200 South Miami 200 South Miami

MIAMI—200 South Miami Avenue, a 1.2-acre core infill site in the heart of Downtown Miami that is currently home to FedEx’s 110,000-square-foot, last-mile distribution center, has traded hands. The sale price: $37.25 million, or $712 per square foot of land.

The Cushman & Wakefield brokerage team of Robert Given, Troy Ballard, in conjunction with Mike Davis, Travis Trautvetter, Rick Brugge, Michael Lerner and Colliers‘ Gerard Yetming, represented Miami-based investor Fifteen Group in the disposition. Long Island-based developer Lalezarian Properties acquired the asset.

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