Prime assemblage at 1656-1680 Alton Road and 1677 West Avenue slated to elevate Miami Beach commercial real estate standards to global stage
SHVO, the luxury real estate development and investment firm, closed on an assemblage including 1656-1680 Alton Road and 1677 West Avenue at the nexus of Lincoln Road. This significant site is targeting developing 250,000 square feet with over 300 feet of prime Alton Road exposure, grand terraced outdoor rooms, and panoramic views.
Joining a significant portfolio of Miami Beach assets including the famed Raleigh Hotel, this acquisition builds upon an established SHVO commitment to Miami Beach. In partnership with Deutsche Finance America, the acquisition closed June 3rd for $39.3 million.
SHVO plans to develop unique Class A commercial space with renowned design firm Foster + Partners, recognized internationally for conceiving state-of-the-art office space. The first Foster + Partners office building in Miami Beach, this development builds upon SHVO’s collaboration with Foster + Partners at Transamerica Pyramid Center in San Francisco. Kobi Karp Architects will reinforce this vision as local veteran expertise. The Alton is slated for an emphatic commitment to quality, sustainability, and a conscious initiative to elevate the standard of Miami Beach office space.
Lord Norman Foster, Founder and Executive Chairman of Foster + Partners, said “Our design is inspired by the climate and vegetation of Florida to create a protected courtyard and to merge the workplace with nature and the outdoors. The Alton will be a model of healthy lifestyle and sustainability.”
“The Alton is an exceptional opportunity to elevate office space to a global audience and cultural significance— featuring an above and beyond sustainability commitment, tailored super prime office space and quality unparalleled in Miami Beach,” said Michael Shvo, Chairman and Chief Executive Officer.
Outdoor space is a vital amenity and signature to the proposed setback massing. The site embraces high-design and execution potential slated to raise Miami Beach commercial space standards.
SHVO is committed to high-performance and high-design commercial properties as demonstrated by additional portfolio assets 711 Fifth Avenue and 530 Broadway in New York, and 333 South Wabash Avenue in Chicago.
The studio has established an international reputation with buildings such as the Hearst Headquarters in New York, 30 St Mary Axe, popularly known as The Gherkin, in London, Millau Viaduct in France, the German Parliament in the Reichstag, Berlin, The Great Court for the British Museum, Headquarters for HSBC in Hong Kong and London, the ME Hotel in London, Commerzbank Headquarters in Frankfurt, the Metro Bilbao, the Carré d’Art Nîmes, the sustainable Masdar development in Abu Dhabi, and research centres for Stanford University, California. Recent work includes the Norton Museum of Art in West Palm Beach, Samson Pavilion for CWRU and Cleveland Clinic in Ohio, Duo Central Park in Sydney, Apple’s headquarters in California, Bloomberg’s new European headquarters in London and the Comcast Technology Center in Philadelphia. Currently, the practice is involved in projects such as the New Slussen Masterplan in Sweden, Kuwait International Airport, and 425 Park Avenue in New York.
For more information visit www.fosterandpartners.com