1601 Washington

Jones Lang Lasalle (“JLL”), has been retained as the exclusive sales representative for the for the sale of the Property of 1601 Washington (the “Property”), a 138,092 SF trophy mixed-use gem whose irreplaceable location has firmly established it as one of Miami Beach’s most recognizable assets. Constructed in 2002, the Property features 111,425 SF of Class A office, 26,667 SF of ground floor retail, and a 499-space parking garage. The Property sits on a 1.48-acre site that is ground leased from the City of Miami Beach through 2092. Accounting for 81% of existing Tier I vacancy on Miami Beach, 1601 is the only existing property with a 10,000 SF availability. 1601 Washington is widely esteemed for its distinctive aesthetic features and prime high visibility location one block from Lincoln Road and Collins Avenue (+7M annual visitors), two of Americas most recognized streets and tourist destinations. The immediate area surrounding 1601 Washington is primed for enhancement, notably the eastern position of Lincoln Road that is expected to receive a $12 Million infrastructure upgrade through a public-private partnership with nearby developers of luxury properties such as The Ritz Carlton and Sagamore. The Property is within walking distance to 70+ restaurants, 300+ multi-housing units, and 5,000 hotel rooms.

Miami Beach is experiencing a renaissance of boutique office development, and 1601 Washington offers a distinct opportunity to acquire an asset considerably below replication costs while drafting off the significant rent growth engendered from nearby developments.