Michael Feuerman, Steve Hyatt and Daniel Silver of Berger Commercial Realty represented the seller. Mark M. Rubin and Bastian Laggerbauer of Colliers | South Florida Investment Services Team represented the buyer.
Anthony Librizzi and Tara England of Cushman & Wakefield represented the landlord, Colonnade Properties, in the lease negotiations.
The asset consists of 75,406 square feet of upscale retail and 45,068 square feet of office space.
The TOBY Awards are the most prestigious and coveted awards of their kind in the commercial real estate industry. The awards recognize superiority in office and industrial buildings and reward excellence in building management.
The project is expected to cost over $500 million to develop.
Anthony Librizzi of Cushman & Wakefield represented the buyer in the transaction and has been retained to oversee leasing at the property.
The building is currently 97% occupied.
Cushman & Wakefield secured $9 million in acquisition financing through Principal Life on behalf of the buyer.
The landlord was represented by Jeff Kelly and Owen Sagar of CBRE.
The deal equates to about $318 a square foot for the nearly 243,000-square-foot complex.