(PRWEB) July 14, 2017
Greenberg Traurig Shareholder Tracy H. Lautenschlager led a team of firm attorneys representing Christ Fellowship Baptist Church at 500 NE 1st Avenue in Downtown Miami in the sale of a portion of its property to 5 Plaza, LLC, an entity controlled by the Melo Group.
The $10 million sale includes an agreement with the developer to construct and deed back to the church 300 parking spaces in the project garage. The church will continue to retain and operate its historically designated church building, which was built in 1925. The property is just over one acre and currently serves as a surface parking lot for the church.
“This sale will provide structured parking to meet the church’s future operating needs and the resources to both maintain the historic structure and grow the ministries of this downtown campus,” said Lautenschlager, who is a member of the firm’s Land Development and Real Estate Practice. “The timing was right for the church to take advantage of the revitalization in the neighborhood that is being driven by the Miami Worldcenter project.”
Greenberg Traurig attorneys representing the church also included Shareholders Jonathan S. Gelman, who is a member of the firm’s Real Estate Practice; Shareholders Iris Escarra and Carlos R. Lago, who are members of the firm’s Land Development Practice; and Associate Stephanie L. Stein, who is a member of the firm’s Real Estate Practice.
The church had previously sold the Northwest corner (surface parking and a small building) to Miami 6th Street, LLC, in March. Greenberg Traurig represented Christ Fellowship in both transactions.
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