Downtown Miami Foot Locker property on market

Company asking $5M for site with high-rise potential

TRD MIAMI /
Dec.December 10, 2013 10:30 AM

A prime downtown Miami retail property is on the market for $5 million.

Foot Locker and a minority partner are listing the 38 East Flagler Street parcel through Marcus & Millichap Real Estate Investment Services, the Miami Herald reported. The nearly 33,000-square-foot building and 0.4 acres of vacant land could be redeveloped into a high-rise tower under Miami’s zoning code. The existing two-story building, which was previously the home of F.W. Woolworth, was constructed in 1934.

The property is east of the Macy’s store at 22 East Flagler Street, which was sold to New York-based Aetna Realty Group at the beginning of 2013. Macy’s, which recently signed a large lease at the planned Miami Worldcenter development, is expected to eventually vacate the location, but the company says no decision has been made. Its lease expires in 2018.

Marcus senior associate Ryan Shaw is marketing 38 East Flagler Street. [Miami Herald]Eric Kalis


Related Articles

arrow_forward_ios
Michael Betancourt, Tyler Kuhlman & Dustin Ozga

Movers & Shakers: Colliers hires new brokerage director & more

Movers & Shakers: Colliers hires new brokerage director & more
Placeholder image

Miami board approves plans for Related, Crescent Heights towers and rejects Melo’s proposal

Miami board approves plans for Related, Crescent Heights towers and rejects Melo’s proposal
Jon Paul Perez and Russell Galbut with renderings of the projects

Related, Crescent Heights and Melo Group seek approval for Miami projects

Related, Crescent Heights and Melo Group seek approval for Miami projects
Blackstone's Jonathan Gray and Stephen Schwarzman (Getty, iStock)

Blackstone to open office in South Florida

Blackstone to open office in South Florida
Jared Galbut, Bodega Taqueria

Menin plans major expansion of Bodega Taqueria

Menin plans major expansion of Bodega Taqueria
249 Northwest 6th Street and Michael Swerdlow (Google Maps, Swerdlow Group)

Developers buy land, score $25M loan for Target-anchored mixed-use project in Overtown

Developers buy land, score $25M loan for Target-anchored mixed-use project in Overtown
1100 Biscayne Boulevard, Miami

Marquis vs. ‘The King of Miami Real Estate’: Condo tower seeks to evict agent for not wearing face mask

Marquis vs. ‘The King of Miami Real Estate’: Condo tower seeks to evict agent for not wearing face mask
(iStock)

A buyer’s market: Condo supply soars in downtown Miami

A buyer’s market: Condo supply soars in downtown Miami
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...