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Swire Properties Inc. is looking to sell a development site in the heart of Miami’s Brickell neighborhood as office demand in the region shows signs of weakening.
Swire has hired brokerage CBRE Group Inc. to market 700 Brickell Ave. and 799 Brickell Plaza. The two sites were initially set to be a major office development called One Brickell City Centre that Swire was going to build with Related Cos.
“The current office market has been challenging and the pre-leasing for that specific scheme has not materialized in the way that we had hoped,” Henry Bott, president of Swire, said in an interview.