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37,000 SF Development Site Hits the Market for $21M Near Downtown Miami

Block E is a 37,000-square-foot development site in the Arts & Entertainment District near downtown Miami

MIAMI, FL (August 18, 2021) -- Colliers South Florida’s Urban Core Division has been tapped to market Block E, a 37,000-square-foot development site in the Arts & Entertainment District near downtown Miami. Located at 1550 NE Miami Place, the development site is listed for $21 million. Colliers’ Executive Managing Director Mika Mattingly, Associate Cecilia Estevez, and Associate Christina Searles are handling the listing on behalf of the Kluger Family, the seller.

“In a very short time, we have seen the Arts and Entertainment District radically transform from a deserted, bleak industrial area to a thriving neighborhood with a strong pulse,” said Mattingly. “The district is home to a thriving arts, cultural, and entertainment scene that is attracting an influx of new residents. Nearby residential projects in the district have leased nearly 100% percent of units within weeks of opening, which speaks to the continued demand. The neighborhood is attracting major investors and developers as this vibrant and bold neighborhood continues its evolution.”

The Block E development site is conveniently located just 1,000 feet from the Metromover, providing connectivity to Brightline’s MiamiCentral station, downtown Miami and Brickell. Under Miami 21, the proximity to the Metromover removes the parking requirement for residential sites. The site, which is located in an opportunity zone, is zoned T6-24a which allows for up to 48 stories and 338,993 buildable square feet, with bonuses. Due to its location in the Omni density overlay, the development can include 427 residential units or 854 hotel units.

The Arts & Entertainment District, also known as the A&E District, is an emerging residential neighborhood of Miami that is located north of the Central Business District, South of Wynwood and west of Edgewater. The neighborhood has seen immense growth and beautification over the past few years, with a number of residential projects breaking ground and nightlife entertainment options.

“All roads lead to the Arts and Entertainment District, and its unmatched connectivity makes it the next logical step for development as downtown expands to the north,” said the Kluger Family. “We have assembled over 4.5 acres of land over the past forty years, and developers have expressed interest in this site so we felt it was time to list the ‘hole in the donut’ of the A&E District.”

The A&E District is home to several Miami landmarks and hot spots for tourists such as the Adrienne Arsht Center for the Performing Arts, Live Modern School of Music, the Perez Art Museum and the Phillip and Patricia Frost Museum of Science, all located within a 5-minute walk of the Block E development site. The $800 million signature bridge project, which will connect I-395, SR 836 and I-95, is just two blocks south of the site.


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Mika Mattingly

Executive Managing Director - Urban Core

Miami

In 2016, I joined the South Florida offices of Colliers International, launching the firm’s Urban Core division.

As co-leader of this group, our team specializes in urban renewal, off-market sales, and assemblages across core South Florida neighborhoods.

With a strong foundation of building-level market data and a knack for navigating the complexities of urban zoning and approvals, I have established myself as the premier real estate expert in the Downtown Miami area. I have been a driving force behind the market transformation from a neglected business corridor to a revitalized destination for real estate investing and community.

Through my perseverance and keen eye for highest and best use, I have sold many of these cherished historical buildings - some of which had been left unused for years and will now be reenergized with an influx of capital and urban renewal efforts. These landmark buildings include the Old Post Office, Dade Commonwealth Building, Thomas Center and Courthouse Tower. 

Prior to Colliers, I was an instrumental player in major assemblages, including being the lead broker on behalf of investor Moishe Mana, who has acquired a major presence in downtown Miami. Since 2014, I brokered 53 transactions worth $306 million targeting commercial properties on East Flagler Street and surrounding areas.

I began my career in real estate in late 2006, learning the ropes on the tail end of Miami’s last boom. Always on the grind, I sold notes in the dry years that followed. When the market began to recover, I turned my attention to the emerging neighborhoods in Miami’s urban core. I became known for my keen intuition in pinpointing blighted areas that were poised for explosive growth, well before they were on the radar.

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Cecilia Estevez

Senior Associate

Miami

As an Associate, I work directly with the growing Urban Core division, preparing research and analysis of the team's niche neighborhood data, including rate trends, zoning, comps and due diligence. I also provide support on a variety of marketing and business development initiatives.

Prior to joining Colliers, I was a Leasing Coordinator and Project Manager for Great American Land Management, Inc., where I worked on a team overseeing the property management of more than one million square feet of retail space and assisted in the property marketing and lease documentation of the space. As a Leasing and Market Research Intern for ACRE in Orlando, FL, I analyzed market conditions and researched new business opportunities in conjunction with prospect outreach. 

I am bilingual in Spanish and hold a Florida Real Estate Sales Associate License. Additionally, I bring experience on a multitude of industry platforms, including Xcelligent, Salesforce and ARGUS.

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