Doral Office Building Sells For $96 Million
The 240,669-square-foot building was 95% leased at the time of the sale.
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The 240,669-square-foot building was 95% leased at the time of the sale.
The asset was completed in Q2 2020 and is approximately 98 percent leased.
Berkadia arranged $14.1 million in acquisition financing on behalf of Foundry Commercial for the acquisition.
The property covers 25 acres.
The JLL brokerage team of Katie Fernandez-Espinosa, Vice President of Retail Advisory Services, and Rafael Romero, Senior Vice President of Retail Advisory Services, will be spearheading the retail and office leasing at the property on behalf of the ownership group Dubner Properties.
The office building represents McGuire Development Company’s first Southeast Florida acquisition.
C&W’s Mike Davis, Rick Brugge, Rick Colon and Dominic Montazemi of Cushman & Wakefield represented the seller in the transaction with support from Zachary Eicholtz and Brooke Tulley.
Plans for the parking lot include a 12-story, 100,000 square foot Class “A” office tower on top of structured parking.
The properties comprise 656 units.
The acquisition increases the company’s South Florida portfolio to 103 buildings totaling over 5.4 million square feet.
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