DWNTWN Realty Advisors completed a $7.75 million ground lease termination in Brickell’s Financial District, positioning two properties near the Miami River for future development. The 14-day transaction involved Newgard Development, Two Roads, and Benzol Properties Corp.
-- DWNTWN Realty Advisors successfully negotiated the termination of a long-term ground lease covering 66 SW 6th St and 625 SW 1st Ave in Brickell, Miami. The lease, with over 23 years remaining, involved 0.46 acres of property in one of Brickell’s most sought-after locations.
Benzol Properties Corp, the leaseholder, finalized the transaction with Newgard Development / Two Roads, who acquired the site. The properties, adjacent to the Brickell Riverfront, expand Newgard and Two Roads' development footprint in the district’s urban core.
The property sits at the intersection of SW 6th Street and SW 1st Avenue, offering direct access to the Brickell Riverfront and proximity to Brickell City Centre, Mary Brickell Village, and key transit points including Metrorail and Metromover stations.
Tony Arellano and Andrew Dixon of DWNTWN Realty Advisors finalized the deal in just 14 days, leading the negotiations throughout the process. The team navigated complex lease agreements and secured favorable terms for all involved, balancing expedited timelines with stakeholder priorities.
“Our team was pleased with the win-win outcome; Newgard Group and Two Roads Development unencumbered an irreplaceable development piece in the center of everything DWNTWN Brickell,” said Tony Arellano, P.A.
For full details on the transaction and its potential impact on Miami’s real estate market, view the case study here: Ground Lease Termination Case Study
About DWNTWN Realty Advisors
DWNTWN Realty Advisors is a leading commercial real estate firm specializing in high-value transactions throughout Miami’s urban core. The firm’s expertise in executing complex, high stakes transactions consistently drives growth and development across the region.
About the company: Commercial Lending News is a media site providing commercial real estate updates including lending, banking, finance, commercial loans, interest rates, REITs, acquisitions and technology affecting the industry.
Contact Info:
Name: Ed Winslow
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Organization: US Commercial Lending
Address: 135 West 36th Street, New York, NY 10018, United States
Phone: (203) 912-7244
Website: https://uscommerciallending.com
Release ID: 89149639
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