The battle for 700 Brickell Ave. land ended, with Swire leaving the field as the winner, said unnamed sources.
Swire managed to outbid its competitors, Related Group and Fortune International, with a $65 million offer for the site which was the location of the Northern Trust bank and Miami Today.
It’s still not clear what Swire’s plans are for the land. Swire is already developing a multi-block project nearby, the Brickell CityCentre, which should feature residential, accommodation and business facilities. There was some talk among real estate experts that the site should be developed as a luxury hotel with added residential services, but Swire remains quiet for now.
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