Coconut Grove Office Property Trades In Off-Market Transaction
Class A office rental rates are exceeding $75 gross in Coconut Grove.
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Class A office rental rates are exceeding $75 gross in Coconut Grove.
The ultramodern Chamberlain University campus in Miramar will include over 56,000 square feet of space to house lecture-style classrooms, science labs, and simulation care centers, along with an admissions center, faculty offices, and student amenities, such as study areas and lounges.
The logistics firm will seek a smaller office footprint due to remote work.
The property was acquired in a special situation from a long-term private family owner.
CBRE also announced that in the past six months, Kevin Gonzalez, Jake Freeman and Maggie Kurtz have arranged nine new office leases totaling 92,000 square feet at 777 Brickell.
The new, long-term lease brings the 212,619-square-foot building to 100% leased and marks Unique Vacations’ relocation and expansion.
Formerly an industrial building, the stand-alone property has been fully converted for office and restaurant use and features a rooftop terrace.
This transaction underscores a paradigm shift in rates and market fundamentals and sets a new bar for the Miami office market.
Executive Managing Director Mark M. Rubin and Director Bastian Laggerbauer of Colliers | South Florida Investment Services Team represented the seller in the transaction.
Jaime Sturgis-led firm’s recent closings include office, retail and industrial property sales.
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