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bobliocatt

Downtown Miami Herald property on block

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Knight Ridder, the parent company of The Miami Herald Publishing Co., said it will put up for sale about 10 acres in front of the Miami Herald building in downtown Miami.

The land is currently occupied by surface parking lots and contains one two-story building on Biscayne Boulevard, known as the Boulevard Shops building.

The company said it named Edie Laquer of Laquer Corp. Realty Group as the broker to market and sell the land. An article in this morning's Herald puts the asking price at $150 million.

Knight Ridder (NYSE: KRI) Vice President Larry Marbert said he wants to emphasize the company is not selling the Herald plant or building.

"Our operations will continue to function much as we have for the last four decades at 1 Herald Plaza," he said.

However, Marbert noted, Knight Ridder is not in the real estate business.

"This land is valuable - more so since the Performing Arts Center has taken shape across Biscayne Boulevard," he said. "With its construction, we have had several inquiries as to whether we could be open to an alternative use - enough so that we finally determined that the most sensible thing for us would be to consider divesting it."

Alberto Ibarg

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Good news for the midtown area of Miami.  I wonder if this would have taken place without the PAC...

<{POST_SNAPBACK}>

Too bad we couldn't put some sort of Times Square-like district there... we could call it "Herald Plaza" ... :D

Imagine a Times Square, or a Shibuya or a Trafalgar Square somewhere in downtown Miami...

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