Masaveu Acquires Wendy’s Site in Brickell for $24 Million, Completing Major Block Assemblage

In a significant Brickell land deal, Masaveu Real Estate US has acquired the Wendy’s property at 200 SW 8th Street in West Brickell for $24 million. The transaction, which closed last week, gives the Spanish investment firm control over nearly an entire block along Southwest Eighth Street — a key corridor in one of Miami’s fastest-growing neighborhoods.

Details of the Acquisition

• Purchase Price: $24 million
• Buyer: Masaveu Real Estate US, the American arm of Spanish conglomerate Corporación Masaveu
• Seller: A group including Inpetros LLC, Berlin Capital LLC, and CNG of Ottawa LLC
• Property: 3,611-square-foot Wendy’s building situated on approximately 0.6 acres at 200 SW 8th Street
• Zoning: Allows up to 150 units per acre and buildings up to 48 stories

The Wendy’s restaurant remains in operation, but the sale signals a long-term redevelopment play in one of Miami’s densest urban districts.

Masaveu’s Expanding Brickell Footprint

This purchase follows a series of recent acquisitions by Masaveu along Southwest Eighth Street:

• 268 SW 8th Street — acquired for $15.5 million earlier this year
• 242 & 250 SW 8th Street — purchased in prior transactions
• Air Rights — Masaveu also controls 22,050 square feet of air rights over adjacent parcels, adding the potential for another 48 residential units

With the Wendy’s deal completed, Masaveu now owns about 1.4 acres spanning multiple addresses, giving it a commanding position to shape future development in Brickell Miami.

Development Potential

Thanks to favorable zoning, the assemblage offers significant opportunities for high-density development. Masaveu could pursue:

• Luxury condominiums
• High-rise multifamily rentals
• Mixed-use projects incorporating retail, office, or hospitality

The zoning framework, coupled with the air rights Masaveu has already secured, allows for major vertical development potential. While no immediate redevelopment plans have been announced, the acquisitions strongly suggest a long-term vision for a transformative project in the heart of Brickell.

Why the Deal Matters

The $24 million Wendy’s purchase highlights several important real estate trends in Miami:

1. Assemblage Strategy: Acquiring smaller parcels over time to enable large-scale redevelopment.
2. Urban Infill Demand: Even fast-food sites in central neighborhoods are prime targets for redevelopment.
3. International Capital: Global investors, particularly from Europe and Latin America, continue to bet big on Miami real estate.
4. Zoning Leverage: Air rights and density bonuses are crucial tools for maximizing value in high-demand submarkets.

Conclusion

The sale of the Wendy’s site in Brickell is about far more than burgers and fries. It represents a strategic land play by a global investment firm with deep ties to Miami’s future growth. With nearly an entire block now under its control, Masaveu is positioned to deliver one of the next major mixed-use developments in Brickell.