MIAMI—200 South Miami, an income-producing high-rise developmentopportunity in the heart of Downtown Miami, just sold for $19million. The site sits next to the Third Street Miami Metromoverstation.

200 South Miami is currently home to a four-story,85,907-square-foot building on a 1.31-acre site FedEx is occupying.BDG 200 South Miami Avenue sold the asset toFifteen 200 South Miami. CBRE'sGerard Yetming. Calum Weaver,Robert Given, and Zachary Sackleyrepresented the seller in the transaction.

“This prime development parcel at the heart of a dynamicinternational gateway market generated a tremendous amount ofinterest from developers, as well as investors seeking in-placeyield,” says Yetming, senior vice president of CBRE CapitalMarkets, Multifamily. “With six large and transformative urbaninfill developments slated for the Greater Downtown area, 200 SouthMiami is at the core of one of the most vibrant real estate marketsin the country.”