South Florida Litigation Firm Unveils New, 18,000 SF Office In Downtown Miami
The litigation and appellate firm originally signed its lease in the tower in 1996 and is the building’s longest-running tenant.
The litigation and appellate firm originally signed its lease in the tower in 1996 and is the building’s longest-running tenant.
The 6.6 acre property is positioned for a large-scale mixed-use development that also allows for the development of up to 6,602 residential units across residential, office, hotel, and retail.
The mixed-use tower is planned to total about 1.6 million square feet, with completion targeted for 2029.
Alex Zylberglait of Marcus & Millichap represented the seller, a private overseas group, and procured the buyer, a local private operator.
The lease transactions are valued at more than $56 million.
The deal represents a significant expansion from Terrabank’s previous 27,068-square-foot office on Coral Way.
The property sits on approximately 7.41 acres and is currently configured as a single-tenant office building.
Senior Vice Presidents Juan Mendiola and Federico Tunnerman arranged the loan for Ocean Bank.
The mixed-use building is now fully leased.
Originally acquired in 2021, the campus was repositioned through a multi-year strategy to concentrate tenancy, enhance the office assets and unlock a portion of the site for residential development, enabling two distinct paths for value creation.
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