Avison Young's Florida Capital Markets Group Oversees FPL In $33 Million Sale Of ±71-Acre Development Site In East Miami-Dade

Avison Young’s Florida Capital Markets Group has negotiated the $33 million sale of a ±71-acre trophy development site on behalf of Florida Power & Light (FPL) at 6525 SW 152 St., positioned at the 67 Ave. and 148 St. intersection, in Miami-Dade County’s Palmetto Bay, Florida. Avison Young Principals Michael T. Fay, who is also Managing Director of the firm’s Miami operations; John K. Crotty, CCIM; David Duckworth; Senior Vice President Jay A. Ziv; and Senior Associate Brian de la Fé completed the disposition of the property to developer Oscar Barbara, CEO and Chairman of LUXCOM.

“The 71-acre land parcel is the largest most recently on the market east of US-1 and is as close to a developmental anomaly ever presented in Miami-Dade County,” said Fay. “The site is ideally positioned adjacent to Deering Bay Yacht and Country Club in the foremost area of Palmetto Bay’s residential section and is the last major waterfront property with direct access to the ocean with no bridges and a marina basin in the entire county. Interest was brisk from local, national, and international investors. Ultimately, we successfully secured a mutually beneficial deal with a local buyer.”

FPL To Build Solar Ring In Downtown's Bayfront Park

Miami commissioners have awarded Florida Power & Light a no-bid contract to build a solar ring which consists of solar panels with a retractable Amphitheater roof in Downtown Miami's Bayfront Park. The entire cost of construction will be shouldered by FPL with operation and maintenance costs covered by the public Bayfront Park Management Trust budged at $40,000 annually. FPL will pay the city a $10 annual license fee but the power generated via the solar panels will go to FPL's grid. Completion is expected by 2020. 

“The installation of the [solar ring] will pique the curiosity of the City’s residents and visitors of all ages, encouraging discussion about sustainability and inspiring them to learn more about the benefits of solar energy,” Annie Perez, Procurement Director, City of Miami.