Swire Properties’ Brickell City Centre hasn’t yet fully opened, but that hasn’t stopped Swire from snagging more real estate around its signature development.
Pointing at possible expansion plans, the company purchased a 7,500 square-foot plot of land that includes a building about a block away from Brickell City Centre, according to public records. The sale was finalized in early May for $2.35 million.
The parcel, at 158 SW Seventh St., is listed in records as owned by 158 SW 7 Street, LLC. Swire Properties President Stephen Owens and Christopher Gandolfo, Swire’s vice president of development, are listed as the LLC’s managers.
Swire declined to comment.
Downtown real estate analyst Anthony Graziano said it’s still too soon to tell what use the company could have for the sole plot.
“I don’t know what the strategic region for it is, unless they are trying to assemble the entire block... unless it’s a long-term play,” Graziano said.
Nearby, the 5.4 million square-foot Brickell City Centre mixed-use development is nearing completion. It’s centerpiece open-air retail and entertainment center is set to open in the fall. Already operating are the development’s upscale hotel, EAST, Miami; 390-unit condo tower Reach and office tower Three Brickell City Centre. A second condo tower and office tower will open later this summer.