The Real Deal Miami

Private bidder offers $15M for South Miami City Hall

Lynx Development Group and ARA Newmark are in discussions with the city manager
March 19, 2016 12:00PM

South Miami City Hall, 6130 Sunset Drive

South Miami City Hall property at 6130 Sunset Drive

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