September 11, 2012
Metro 1 Commercial recently announced the sale of 3551 Biscayne Boulevard (also known as the Regions Bank Office Building) for $9.9 million dollars. This sale is part of a string of sales the past six months that has displayed the exciting growth of both Metro 1 Commercial and the Wynwood commercial real estate market. Metro 1 Commercial has completed $60 million dollars in Miami commercial real estate sales transactions in the past six months alone.
The Regions Bank Office Building is a fixture in the Wynwood area towering over Biscayne Boulevard and 35th Street. With over 100,00 square feet of work space, ample parking and close proximity to the Shops at Midtown, transit, and major highway exits – this office holds incredible value as a commercial real estate investment in an up-and-coming community. According to Alexander Briteli at The Real Deal Real Estate Blog,
“The Regions Bank office building in Miami has been sold, according to Metro 1 Commercial, which brokered the transaction. Terms were not disclosed, although the 106,801-square-foot property had been listed for $9.9 million. Regions Bank is the anchor tenant at the property, which is located at 3551 Biscayne Boulevard. Metro 1 has completed $60 million in sales transactions in the last six months in its typical operating areas of Wynwood, the Design District and Midtown”.
The Wynwood area has seen a resurgence of commercial real estate investment and is one of the fastest growing areas for business in Miami. Metro 1 Commercial has facilitated the transactions for numerous Wynwood businesses aiding the expansion of this young, vibrant urban community. Wynwood is an up-and-coming neighborhood within the city of Miami revitalized and designed to fit the modern concepts of live/work communities, city beautification, and easy transportation that is extremely attractive to young professionals and more.