Marcus & Millichap Brokers Sale Of Fully Leased Office Asset In South Miami
Alex Zylberglait and Michael Crocchiola, investment specialists in Marcus & Millichap’s Miami office, exclusively marketed the property on behalf of the seller.
Alex Zylberglait and Michael Crocchiola, investment specialists in Marcus & Millichap’s Miami office, exclusively marketed the property on behalf of the seller.
Both professionals will report to Chris Drew, Senior Managing Director and Miami Office Head.
The college will consolidate its operations into a new 30,000-square-foot facility within the reimagined mixed-use development.
Newmark’s Co-Presidents of Global Debt & Structured Finance Jordan Roeschlaub and Jonathan Firestone, Vice Chairman Nick Scribani, and Director Chris Lozinak secured the financing from Barings.
The transaction included both a deed-in-lieu-of-foreclosure and a conventional sale supported by new financing.
Gordon Messinger and Randy Carballo with CBRE represented the landlord in all lease negotiations.
The custom-built headquarters will offer between 600,000 and 700,000 square feet of workspace.
Ted Elam, Principal at Foundry Commercial, will serve as president for the distinguished real estate organization, known for its comprehensive industrial, office, and real estate finance reports.
The two experienced real estate professionals will join JLL’s leading tenant representation services team serving clients across the South Florida region.
The lease coincides with another major move in the area: City National Bank of Florida recently signed a 144,878-square-foot lease to relocate its headquarters within Coral Gables, marking the largest office lease in South Florida since 2023.
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