The Real Deal Miami

Whole Foods in downtown Miami sells for $20M

41K sf space is in the Met 3 building

April 21, 2015 04:45PM

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Downtown Miami Whole Foods

Downtown Miami Whole Foods

Edens Investment Trust reportedly paid $19.6 million for the new Whole Foods Market in downtown Miami.

P&G Development was the seller, the South Florida Business Journal reported. The Miami-based company sold the retail space and underground parking to an Edens affiliate. The 41,000-square-foot space is in the 462-unit Met 3 development, which recently topped off construction.

Koniver Stern’s Lyle Stern represented P&G, according to the publication.

“What Whole Foods means to downtown Miami at this point in time is really important,” he said to the South Florida Business Journal. “It validates the strength of the market. Just look at how busy it is. It’s another piece of what makes a community livable.”

Met 3 was designed by Miami-based Nichols Brosch Wurst Wolfe & Associates and developed by MDM Group. MDM’s next downtown Miami project, Met Square, will begin development soon. [South Florida Business Journal]Katherine Kallergis