Square Footage: 350,000
Cost: $80 Million
Location: Coral Gables, FL
Key Features: Ideally suited to big-box retail and/or corporate office space | Large open floor plate | Three-story parking garage
Firms Role: Developer, Leasing, Property Management
The Miracle Center was an architecturally distinctive building located just outside the Coral Gables central business district in the City of Miami. It was formerly an enclosed shopping center and was comprised of 247,000 square feet of gross leasable space and over 1,200 parking spaces on three levels.
Swerdlow Group acquired the building through an affiliated real estate company and demolished the interior space for redevelopment. The single tenant in the building, Bally’s Health Club, occupied approximately 36,000 square feet and continued to operate during the demolition. The building had large open floor plates, potential for 20-foot clear heights and was ideally suited for “big-box” retailers or use as a corporate headquarters for a large company looking to relocate in Miami.
Swerdlow sold the building in an unfinished state to a retail developer. The location is currently a very successful shopping center.
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Address: 2901 Florida Street Suite 806
Coconut Grove, FL 33133
Telephone: (305) 476-0100