MSC Group Pays $67M for Miami Office
The Swiss company plans to open its North American HQ in Overtown
By Julia Echikson June 18, 2024 1:31 pm
reprints
MSC Group’s vessels crisscross the oceans, but the maritime company wants to own some dry land to anchor its Miami operations.
The Switzerland-based firm paid $67 million for a commercial condominium at Block 55 at Sawyer’s Walk, six months after announcing it would occupy 130,000 square feet at the mixed-use development, according to property records.
The company plans to open the North American headquarters of its cruise division at the 1.4 million-square-foot project in Miami’s Overtown neighborhood. The office will accommodate 250 employees, who work at MSC Cargo, MSC Cruises and Explora Journeys divisions.
MSC Group, which has had presence in Miami for 25 years, is now building a four-story cruise terminal at PortMiami.
Block 55 at Sawyer’s Walk, developed by Swerdlow Group, also remains under construction. Located at 249 NW Sixth Street, the 3.4-acre development will house about 578 residential units for predominantly low-income seniors, 1,000 parking spots and 175,000 square feet of retail space, which will be occupied by Target, Aldi, Ross Dress for Less and Burlington.
The estimated cost of Block 55 is about $164 million, according to 2021 filings to Miami-Dade County.
CORRECTION: This article has been corrected after a previous version incorrectly stated that MSC Group had initially signed a lease.
Julia Echikson can be reached at jechikson@commercialobserver.com.
