Robert Given (left) and Troy Ballard.
Robert Given and Troy Ballard
Vice chairmen at CBRE
Robert Given and Troy Ballard are used to breaking records in South Florida commercial real estate. The pair are on their way to breaking yet another one — perhaps their biggest yet.
Last year, their team put under contract a 4.25-acre parcel along Miami’s Brickell waterfront for $520 million to Oak Row Equities, another Power South Florida 2025 entry.
The deal has yet to close, but it would set a record in gross terms for South Florida’s most expensive land sale. The sale would trump Ken Griffith’s $363 million purchase in early 2022 of a nearby parcel, where the billionaire plans to build a 54-story mixed-use tower to house the headquarters of his two financial companies, hedge fund Citadel and market maker Citadel Securities.
The Brickell waterfront property now holds two buildings, which generate about $20 million in income annually, but Oak Row plans to redevelop the site into luxury condos.
Given and Ballard have a good track record of closing deals. Just over a decade ago, Given brokered the $125 million trade of a waterfront site in Downtown Miami, a record at the time.
Three years ago, they brokered the $430 million sale of a rental property in Coral Gables to real estate giant Hines, which remains one of the largest multifamily transactions in South Florida.
The pair isn’t done. They have the assignment to sell The Galleria at Fort Lauderdale, a 31-acre mall near the beach in that city. That could fetch over $100 million.
