Barry University Development Site

Jones Lang LaSalle Americas, Inc. (“JLL”), on behalf of Barry University (the “University”), is pleased to exclusively offer the opportunity to acquire, via ground lease or fee simple interest, approximately 2.6 acres of developable land located at the north and south corners of NE 115th Street along NE 2nd Avenue (the “Property”, “Site” or “Parcels”) within Miami, Miami-Dade County, FL. The Parcels are ideally situated immediately east of I-95 and afford investors a unique opportunity to acquire 2.6 acres of prime commercially-zoned land located within Miami, a highly desirable suburb of the greater North Miami submarket and directly adjacent to the Barry University campus (6,865 students and 1,581 total faculty and staff).

The Site is split into three parcels: Parcel 1, 2a, and 2b. Parcel 1 takes up the northern corner of NE 115th Street, while Parcels 1a and 1b make up the southern corner of NE 115th Street. Both Parcel 1 and Parcel 1a are zoned BU-1A, which is a commercial zone that permits office and retail development. Parcel 1b is zoned RU-2, which is a residential zone that permits dual-dwelling residential development.

Barry University is one of the largest Catholic universities in the Southeast, with comprehensive educational offerings that span Nursing and Health Sciences, Podiatric Medicine, Business, Education, Social Work, Law, and Liberal Arts. Situated directly east of the University’s main campus, the Site is considered surplus land and, as such, the University is seeking an active developer to bring a highly accretive project to Miami – one which will benefit both the University and the surrounding community’s workforce. The Site also stands to benefit from superior highway access and visibility to 210,000 vehicles per day along I-95, which is less than a mile from the Site. This proximity to a major highway also provides quick and easy linkage to nearby demand drivers and employment hubs, such as Miami Beach, the Design District, Wynwood, Aventura Mall, and Downtown Miami.

The Parcels are surrounded by affluent communities with an average household income of $110,000 within a 1-mile radius and median home values in the top 26% most expensive homes in the nation. The Site in Miami, owned by Barry University, is primed for success in the Miami macro-market and Miami Shores submarket due to its unparalleled access to a robust student population, numerous employment hubs throughout South Florida, and affluent residential communities. The Parcels’ location within Northeast Miami allows the investor to benefit greatly from the imminent redevelopment and transformation of the area. With the developments of Sole Mia, Uptown Harbour, and the Magic City Innovative District happening all around the Site, investors can capitalize on the growth and commercial transformation occurring in this dense, highly sought-after submarket in the Miami MSA.