Walgreen Co. sells 1-acre site in Brickell for $15.5M

Miami /
Apr.April 07, 2015 11:15 AM

Drug store giant Walgreen Co. sold a 1-acre site in Brickell for $15.5 million, county records show.

The development site at 250 and 296 Southwest Seventh Street sold to Marathon Lodging, a Miami-based LLC, on April 2. Walgreen bought the two parcels for $10 million in February of last year, and had submitted plans for an ultra-modern Walgreens two blocks west of Brickell City Centre.

Florida Community Bank granted the buyer a $7.5 million mortgage, according to Miami-Dade County records.

The properties are zoned for multifamily and automotive/marine development. Amit N. Patel and Chirag B. Desai are listed on the buyer’s corporate records.

Architects Robert Brown and Frank Demandt of Demandt Architecture were designing the planned drug store, the Next Miami reported in March 2014. Paradise Ventures was the developer.

Richard Steiner of Walgreens signed the deed. A Walgreens spokesperson could not be immediately reached.


Related Articles

arrow_forward_ios
Yamal Yidios and an aerial view of the property (Ytech)
Ytech completes $12M deal for Brickell high-rise dev site
Ytech completes $12M deal for Brickell high-rise dev site
Continuum 2.0? Bruce Eichner teams with TSG to develop Brickell tower
Continuum 2.0? Bruce Eichner teams with TSG to develop Brickell tower
Continuum 2.0? Bruce Eichner teams with TSG to develop Brickell tower
Michael Stern and a rendering of the project (Getty, JDS Development/SHoP Archictects)
Michael Stern pays $24M for future site of 62-story Brickell tower
Michael Stern pays $24M for future site of 62-story Brickell tower
Major Food Group's Jeff Zalaznick and the Design District location (iStock)
New York restaurateur Major Food Group to open three concepts in Miami
New York restaurateur Major Food Group to open three concepts in Miami
Oak Street Jim Hennessey and Marc Zahr with 3100 North Andrews Avenue, Oakland Park
Oak Street Real Estate Capital buys Oakland Park Walgreens for $7M
Oak Street Real Estate Capital buys Oakland Park Walgreens for $7M
Civic Construction CEO Williams Real, Vlad Doronin and an aerial view of the Brickell project's foundation (Getty, Linkedin, Golden Dusk Photography)
Construction accident at OKO Group’s Brickell tower site in Miami lands six workers in the hospital
Construction accident at OKO Group’s Brickell tower site in Miami lands six workers in the hospital
(iStock)
Bargain shopping: Here’s where resi prices fell the most in Miami in Q2
Bargain shopping: Here’s where resi prices fell the most in Miami in Q2
Jay Parker and Mike Sales, with 801 Brickell Avenue (Credit: Google Maps)
TIAA sues Douglas Elliman over allegedly unpaid rent at Brickell high-rise
TIAA sues Douglas Elliman over allegedly unpaid rent at Brickell high-rise
arrow_forward_ios

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

Loading...