Downtown Miami Foot Locker property on market

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
First Quality Enterprises' Kambiz Damaghi along with a rendering of the two proposed residential towers next to MiamiCentral (Getty, First Quality Enterprises, Facebook/Clinton County Economic Partnership, Zyscovich)
Damaghi family buys resi tower dev sites next to MiamiCentral
Damaghi family buys resi tower dev sites next to MiamiCentral
Aria's David Arditi with rendering of 501 Residences (Aria Development Group, Getty)
Aria JV scores $81M construction loan for downtown Miami condo project
Aria JV scores $81M construction loan for downtown Miami condo project
From left: Bel Invest's Maximillian Beltrame, Mast Capital's Camilo Miguel, and PMG's Ryan Shear (Getty; Illustration by Kevin Rebong for The Real Deal)
Life after FTX: What happens to the crypto buyer pool now?
Life after FTX: What happens to the crypto buyer pool now?
River Landing Shops and Residences with Andrew Hellinger and Coralee Penabad of Urban-X Group (UrbanX)
Lease roundup: Urban-X, Motwani, Falcone, CIM Pebb score tenants
Lease roundup: Urban-X, Motwani, Falcone, CIM Pebb score tenants
From left: Hyatt's Mark Hoplamazian and Gencom's Karim Alibhai along with a rendering of the proposed James L. Knight Center, a three-tower development at 400 Southeast Second Avenue (Getty, Hyatt, Gencom)
Miami voters approve James L. Knight Center redevelopment
Miami voters approve James L. Knight Center redevelopment
PMG's Dan Kaplan, Ryan Shear and Kevin Maloney with rendering of Waldorf Astoria tower in Miami (PMG, ArX Solutions)
What it takes to develop a Miami supertall
What it takes to develop a Miami supertall
(Photo Illustration by The Real Deal with Getty Images)
After Ian: South Florida’s construction costs, insurance to rise
After Ian: South Florida’s construction costs, insurance to rise
Property Markets Group's Ryan Shear, Kevin Maloney, Dan Kaplan and Greybrook’s Peter Politis with Elser Hotel & Residences; Terra's David Martin and Doral Square (Terra, Property Markets Group, Greybrook)
Lease roundup: PMG’s Elser, Terra’s Doral Square nab tenants
Lease roundup: PMG’s Elser, Terra’s Doral Square nab tenants
arrow_forward_ios

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

Loading...