The Real Deal Miami

Banco Santander building on Brickell hits the market

The Spanish bank paid $114M for the property in 2008
November 17, 2017 01:35PM

Banco Santander at 1401 Brickell Avenue and Avison Young’s David David Duckworth (Credit: Google Maps, Avison Young)

A 14-story building in Miami’s Financial District has hit the market for an undisclosed price, according to the South Florida Business Journal.

The 236,877-square-foot Banco Santander building at 1401 Brickell Avenue is listed for sale, a Santander Holdings USA spokesperson confirmed to the Business Journal. She said the sale is part of a “long-term business strategy.”

Records show the Spanish bank paid $114 million for the property in 2008. The building sits on a 2-acre plot of land, and has about 188,000 square feet of leasable office space, according to the Business Journal. Avison Young’s David Duckworth, Michael T. Fay and John K. Crotty have the listing.

Currently zoned for more than 45 stories, the Banco Santander building, built in 1973, could serve as an investment for developers looking to build in the burgeoning area.

Today, Miami’s Brickell neighborhood is home to a number of recently completed condos and retail projects, including Brickell City Centre. Nearby, Ugo Colombo’s Brickell Flatiron is under construction. [SFBJ]Amanda Rabines