A company called Lynx Development Group offered to pay $15 million for South Miami City Hall and may raise its bid.
The South Miami City Commission decided the $15 million bid was too low but authorized City Manager Steven Alexander to discuss a possible deal with Lynx Development.
Lynx Development made its offer for the city property at 6130 Sunset Drive in a February 16 letter sent to Mayor Philip Stoddard from ARA Newmark, an investment advisory firm representing the bidder.
Alexander subsequently met with Troy Ballard, senior managing director of ARA Newmark, and officials of Lynx Development.
“They thought their offer was fair,” Alexander told the Miami Herald. “They are also interested in potentially revising the offer after subsequent discussion with the commission.” [Miami Herald] — Mike Seemuth