Citibank inks lease for new branch across from Midtown Miami

Miami /
May.May 16, 2016 09:45 AM

Citibank has inked a five-year lease in a redeveloped building across from the Shops at Midtown Miami. 

The national bank will open a new 2,200-square-foot branch at 3300 North Miami Avenue, Gaston Miculitzki of BM2 Realty told The Real Deal.

In NovemberBlock Capital Group bought the 25,790-square-foot retail property from TriStar Capital for $13 million. Citibank will take the corner space in a five-year deal that includes options for two five-year extensions, Miculitzki said. The bank is working on the buildout and renovations.

Citibank joins other banks in the area like C1 Bank at 2632 North Miami Avenue and BankUnited at 3140 North Miami Avenue.

“I think it’s great because it shows that the area is growing not only for residents, but also for the businesses in Midtown and Wynwood,” Miculitzki told TRD.

Greg Masin of Cushman & Wakefield represented the tenant. Miculitzki declined to disclose financial terms of the lease.

Block Capital Group, a Miculitzki family and Cabi Developers joint venture, is partnering with the Related Group on a residential project in Wynwood. The company also bought an art gallery at 310 Northwest 24th Street in December for $6 million.


Related Articles

arrow_forward_ios
3601 North Miami Avenue with Francisco Arocha

Midtown Miami development site in foreclosure hits the market

Midtown Miami development site in foreclosure hits the market
Yard 8 and Wood Partners CEO Joseph Keough (Courtesy of ACRE)

Wood Partners lands $86M refi for Midtown Miami apartments

Wood Partners lands $86M refi for Midtown Miami apartments
Vladislav Doronin (Credit: Gesi Schilling via Wikipedia)

Billionaire developer Doronin buys Fort Lauderdale assemblage for $63M

Billionaire developer Doronin buys Fort Lauderdale assemblage for $63M
Seth Wise, Co-CEO of The Altman Companies, Altís Ludlam Trail

Altman scores $55M construction loan for Ludlam Trail project

Altman scores $55M construction loan for Ludlam Trail project
Joseph Swedroe (Corcoran, iStock)

Corcoran agent in Miami loses job over “racist and fear-based” marketing

Corcoran agent in Miami loses job over “racist and fear-based” marketing
Vanessa Grout with Vladislav Doronin

Vanessa Grout leaves Ugo Colombo’s firm to lead OKO Group’s real estate arm

Vanessa Grout leaves Ugo Colombo’s firm to lead OKO Group’s real estate arm
Rendering of the project with Jon Paul Pérez (top) and Jorge Pérez 

Related switches gears on Terminal Island project, now plans low-rise offices

Related switches gears on Terminal Island project, now plans low-rise offices
Edgardo Defortuna and a rendering of La Playa de Varadero

Not stopping for the pandemic: Fortune, Château could launch Sunny Isles project by year-end

Not stopping for the pandemic: Fortune, Château could launch Sunny Isles project by year-end
arrow_forward_ios

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

Loading...