Brightline — the private rail line between Miami and Orlando — has put its downtown Fort Lauderdale parking garage up for sale as it looks to raise cash.
The Fortress Investment Group-backed railroad has put a price tag of about $20 million on the 571-space garage, according to people familiar with the matter who asked not to be identified discussing private details. Brightline Holdings LLC hired Jones Lang LaSalle Inc. to market the facility, which Brightline Florida plans to lease back for $1.5 million annually. The train line’s lease on the one-acre lot would last at least 25 years, with a 3% annual increase on rent, according to marketing material for the listing.