MIAMI—As the next wave of development gets underway in DowntownMiami, it’s not all about billion-dollar mixed-use projects orhigh-rise condos. A landowner is putting a 1.58-acre parcel up forgrabs with a mixed-use tower in mind.

Marcus & Millichap Real Estate InvestmentServices has the exclusive listing to sell a land parcelon Northeast First Place and Northeast First Avenue in Miami. Thelisting price is $10 million. Ryan Shaw, anassociate, and senior associate Arthur Porosoff inM&M’s Miami office are representing the seller, a limitedliability company in Miami.

“As the performance of urban infill rentalproperties in Miami continue to improve tremendously manydevelopers are looking to invest in newmultifamily and mixed-use projects in this area,”Shaw said in a statement. “This area is experiencing a boom withplans for the Resorts World Miami project and the groundbreaking ofthe Miami Science Center. Also within blocks of the proposedproject is the new urban-designed Publix and the Adrienne ArshtCenter for the Performing Arts.”