Transwestern Brokers Sale of Site to South Florida Community Land Trust
April 14, 2022
Miami – Make-A-Wish® Southern Florida Inc. announces it has sold a 0.83-acre, or 36,174-square-foot, parcel at 350 NW 6th St. in Miami, Florida to South Florida Community Land Trust for $5,150,000, or $142 per square foot. Transwestern Real Estate Services’ (TRS) Southeast Investment Sales team of John Bell, Mike McGaughy and Jon Kleinberg facilitated the transaction on behalf of the owner.
“As one of the area’s last land tracts available for ground-up development, this property presented a rare investment opportunity,” said Bell, a Senior Managing Director at Transwestern. “The site is ideally positioned at the gateway to the western expansion of Miami’s CBD, which is transitioning into a focal point for new residential and commercial uses.”
Additional landmark developments within blocks of the property include the transformative MiamiCentral, a transit-oriented mixed-use project spanning six city blocks, completed in 2018, and Sawyer’s Walk/Block 55, a $350 million, 1.4-million-square-foot retail and apartment project that broke ground earlier this year.
The high-profile site is situated at the corner of NW 6th Street and NW 4th Avenue, fronting NW 3rd Court, the main exit road from I-95. Zoned T6-8-0 with an Opportunity Zone designation, the property supports a multifamily development with a density of 150 units per acre. Directly across from the site, Make-A-Wish is constructing its new $25 million, 25,000-square-foot Finker-Frenkel Wish House and Headquarters with expected completion in the third quarter of 2023.
“Transwestern has been a tremendous partner to Make-A-Wish over the years,” said Norman Wedderburn, President & CEO, Make-A-Wish Southern Florida. “We are grateful for their expertise on this project and thrilled with South Florida Community Trust’s plans to develop affordable housing on the property and bring new opportunities to residents in our community.”
Make-A-Wish has been Transwestern’s Southeast philanthropy partner since 2007. Earlier this year, the firm selected Make-A-Wish as its national philanthropic partner for the second time. Transwestern is donating a percentage of this project’s transaction fee back to the Southern Florida chapter in support of this alliance.
About Make-A-Wish® Southern Florida
Make-A-Wish® Southern Florida has a sole mission: Together, we create life-changing wishes for children with critical illnesses. Started in 1983 by the Plantation Junior Woman's Club, the Southern Florida chapter has granted more than 13,000 wishes. It is our vision to grant the wish of every medically-eligible child in our territory.
In a typical year, we grant more than 600 wishes to local children with critical illnesses. Additionally, we annually grant another 175+ wishes, in collaboration with other chapters, when children come to our territory to experience their wishes. Make-A-Wish Southern Florida serves children and families in 22 Florida counties in Southeast and Southwest Florida, the Tampa Bay and Suncoast regions and the U.S. Virgin Islands.
To learn more about how you can help make wishes come true, visit us on the web at wish.org/sfla. You can also connect with us @makeawishsfla on Facebook, Twitter, YouTube and Instagram.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for clients across commercial real estate services, development, and investment management. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.
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Jaime Luckey
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jaime@luckeycomms.com
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