Coconut Grove Office Property Trades In Off-Market Transaction
JLL Capital Markets has closed the $11 million off-market sale of Grove Professional, a 39,932-square-foot, jewel box office building in the highly coveted Coconut Grove office submarket of Miami.
JLL facilitated the sale between the buyer, COFE Properties, LLC, and seller, Grove Property Holdings, LLC, in the off-market transaction.
Grove Professional is located at 2950 SW 27th Ave. in the booming Coconut Grove submarket of Miami where climbing Class A rental rates are exceeding $75 gross.
The JLL Capital Markets team was led by Senior Managing Director Hermen Rodriguez, Managing Director Ike Ojala and Directors Cody Brais and Matthew McCormack.
“Coconut Grove is one of the most coveted office markets in Florida due to the high barriers-to-entry, quality of tenancy, walkable amenities and proximity to executive housing,” Rodriguez stated.
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