Aventura-Area Office Property Could Be Replaced With 376 Live Local Apartments
The property is currently improved with the Aventura Offices and Medical Center, a two-story office and medical office building totaling about 37,000 square feet.
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The property is currently improved with the Aventura Offices and Medical Center, a two-story office and medical office building totaling about 37,000 square feet.
The deals will keep two buildings fully occupied while extending tenant commitments into 2035.
To qualify, investors must invest $800,000 in capital from a lawful source of funds into the project.
Eric Cantor of Cushman & Wakefield represented the landlord in the transaction. Dean Katz, Adam Bernstein and Greg Katz of Stream Realty Partners represented Travelpro.
The two-story property sold for $510 per square foot.
Simon acquired the 18.6-acre Sears site last year for $23 million.
The asset consists of two 11-story office towers and a connected structured parking facility. The property is fully leased and home to a diverse roster of national and global tenants.
The portfolio includes four shopping centers located in Miami-Dade, Broward and Palm Beach counties.
Their expertise spans retail investment sales, sale-leasebacks, development advisory, 1031 exchange transactions, portfolio dispositions, and complex investment strategies nationwide.
Colliers’ Vice President Jake Freeman and Senior Vice President Maggie Kurtz represented the landlord in securing the lease.
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