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City of Miami looking to unload riverside headquarters

@NewsbySmiley

Developers lusting for land on the Miami River have a new site on which they can salivate: the city of Miami's administrative headquarters.

The city is working with CBRE group to unload its Miami Riverside Center, according to City Manager Daniel Alfonso. The 320,000-square-foot complex, built in 1992, is located on two acres of land on the river's north bank, immediately east of I-95. The property has a market value of $22 million, according to the Miami-Dade Property Appraiser.

Alfonso said he's looking for a developer willing to build a new, larger, more modern administrative building on cheaper land and swap the property for the city's. Alfonso said the city would look to receive cash value if the property it receives is worth less than the land it is giving up.

The deal would require a voter referendum.

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