DWNTWN Realty Advisors Finalizes $7.75M Ground Lease Termination Sale Near Miami Riverfront in Brickell Financial District

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.

Miami, Florida, United States, December 30, 2024 — 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
Email: Send Email
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

In case of encountering any inaccuracies, problems, or queries arising from the content shared in this press release that necessitate action, or if you require assistance with a press release takedown, we urge you to notify us at error@releasecontact.com (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). Our responsive team will be readily available to promptly address your concerns within 8 hours, resolving any identified issues diligently or guiding you through the necessary steps for removal. The provision of accurate and dependable information is our primary focus.