The Real Deal Miami

Swire beats the pack with $65M bid in Brickell

The Hong Kong-based developer reportedly won the undeveloped site at auction

July 10, 2013 11:00AM

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Brickell CityCentre

Swire Properties bested two competitors for an undeveloped site at 700 Brickell Ave. in Miami with its $65 million bid, South Florida Business Journal reported, citing unnamed sources.

Swire won out over Related Group and Fortune International at an auction held by the property’s owners, according to the Journal.

Swire is developing the $1 billion CityCentre adjacent to the site, which it now reportedly has under contract.

Late last month, Related bought an undeveloped, 1.37-acre parcel steps away from CityCentre, as TRD reported.

CityCentre, which spans more than five city blocks, according to Curbed, includes hotels, condos, offices and retail, to be managed by the owners of Bal Harbour Shops, Stanley Whitman and family executives.

The newspaper was unable to reach Swire for comment. [SFBJ]Emily Schmall