Habitat Development Corporation has tapped Colliers International of South Florida to sell the historic Walgreens Building in Downtown Miami. Built in 1936 and designed by Zimmerman, Saxe and MacBride, the Art Deco-style building was just the third location outside of Chicago for Walgreens. The five-story structure features a subterranean basement for a total 49,847 sqf of mixed-use space. It has earned historical designation from both the City of Miami and the National Register of Historic Places. The property’s historic designation allows for the sale of Transfer of Development Rights (TDRs) under current zoning regulations totaling 244,755 square feet. The building currently is currently under lease to La Epoca Department Store.
“Miami’s Historic Walgreens Building is one of the most recognizable and well-located commercial assets in all of downtown dating back 80 years,” says Mika Mattingly, Colliers International. “It’s rare for a true architectural icon to trade hands in Miami.”
