CBRE has been tapped by the City of Miami to sell Miami Riverside Center (MRC), the Cityās administrative headquarters. Located at 444 SW 2nd Ave., the 3.15 acre site sits on over 650 linear feet of the Miami River with redevelopment potential of up to 1,574 units. The goal of the City is to obtain new Class A office space for administrative offices within the city limits. The City of Miami has stated that it is open to a three year lease back of the 194,679 sqf of rentable space in the building.
āBoth Mayor Regalado and the Cityās Department of Real Estate recognize the tremendous value of selling this asset. The potential to expand economic development at the existing site and solve the Cityās operational need for a new facility will greatly benefit The City of Miami,ā said Department of Real Estate Director Daniel Rotenberg.
