Bacardi sells buildings in Miami

Bacardi Tower and Museum sold to National YoungArts Foundation

Published On: Oct 03 2012 11:59:21 AM EDT   Updated On: Oct 03 2012 10:22:23 PM EDT
Bacardi building
MIAMI -

Bacardi sold its iconic Bacardi Tower and Museum buildings to the National YoungArts Foundation.

The $10 million sale was finalized on Wednesday.

"We wanted to make sure that this home ended up with a terrific organization that would continue the legacy of community activity, the commitment to Miami and particularly this neighborhood," said Bacardi Chair Facundo Bacardi.

YoungArts will convert the buildings, located at 2100 Biscayne Boulevard, into the organization's first national headquarters.

"This property is screaming arts organization," said Paul Lehr with the National YoungArts Foundation. "It's one of the most iconic, beautiful architectural structures."

YoungArts' Artistic Advisor Frank Gehry has been commissioned to design the master plan for the historic Bacardi campus, preserving the features of the iconic blue and white tiled Tower and stained glass "Jewel Box" buildings, while creating a multi-disciplinary arts complex and park.