An affiliate of the Miami Worldcenter development team grabbed $12 million worth of additional property for its nine-square-block, mixed-use development just north of the Central Business District.
The two lots are located at 130 Northeast 10th Street and 127 Northeast Ninth Street, the latter of which contains a 10,569-square-foot industrial building at the moment. Miami World Center Holdings LLC runs the Boca Raton-based company, Miami Fourth LLC, that made the acquisition from Miami-based Equipment Leasing of Florida LLC.
The project, which Miami City Commission approved in 2008, will have a mix of hotel, retail, residential and office space totaling more than 11 million square feet. CIM Group and Centurion Partners, both based in California, and Falcone Group LLC jointly own the site. [Daily Business Review] — Mark Maurer