The Real Deal Miami

Two floors in sale negotiations at Miami’s Courthouse Center Garage

March 02, 2011 04:59PM

The Miami Parking Authority is in talks to sell two floors at its new $36 million Courthouse Center Garage at 40 NW Third Street. The sales would generate cash for the city — a move being pushed by Miami Mayor Tomás Regalado. The first deal, which is being finalized, would hand advertising firm BVK/Meka the third floor of the 11-story garage for $141 per square foot and is expected to be signed within the week. The second deal would be for the 6,500-square-foot second floor with an asking price for $175 per square foot. If both deals close, just 1,200 square feet on the top floor will remain. The garage contains a total of 40,900 square feet of office space, 4,000 square feet of retail and 852 parking spaces. [Miami Today]