The buyer said in a press release that Mary Brickell Village "provides for compelling value-creation opportunities as the site’s zoning allows for the potential to develop up to 80 stories or 4.1 million square feet which could consist of residential, office and hospitality."
Adaptive reuse strategies can keep CRE players competitive despite the cooling market and reduced inventory—but rehabbing, repositioning, or redeveloping an asset comes with specific risks.
As borrowing gets more expensive, a sale-leaseback could be a more attractive option for finding cash
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