MIAMI-A prime downtown piece of real estate that could eventually be the site of a high-rise building is on the market for sale.
The Foot Locker property on Flagler Street, which was once the home of F.W. Woolworth, in on the market for sale at an asking price of $5 million, according to the Miami Herald.
“It's a perfect opportunity for someone to come in and redevelop,” says Ryan Shaw, a senior associate with Marcus & Millichap Real Estate Investment Services, who represents the sellers, Foot Locker and its minority partner, in the listing.
Shaw said the Foot Locker property availability is unrelated to Macy's announcement last week that it plans to open new Macy's and Bloomingdale's stores as anchors in the Miami Worldcenter project in the Park West district. A Macy's is currently located adjacent to the Foot Locker site on Flagler Street. Although the retailer has not made any announcement concerning that store's future, local business leaders maintain that the store's eventual closure seems inevitable. Macy's has a lease on the Flagler Street property until 2018. See story in the Miami Herald.
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