Four-Building Office Complex Trades In Off-Market Deal

Julian Huzenman, Vice President of Leasing & Brokerage with FIP Commercial Realty, arranged the sale of a four-building office complex located at 1515 NW 167th Street in Miami Gardens.

KEI Properties, led by Kenneth Israel, paid $9.1 million to 1515 NW 167 Street LLC, an entity tied to Niznik Behavioral Health, for the Plaza Executive Centre North, a 51,000-square-foot, single-story asset. The deal represents a sale-leaseback with additional office tenants. The acquisition also represents a value-add with future redevelopment opportunities.

Huzenman represented both the buyer and seller in the transaction. The deal closed September 24.

“This was a unique opportunity for the buyer, who has other assets in the area, to acquire a single-story office park with a great parking ratio, which is a rare asset,” commented Huzenman.

KEI Properties focuses on office and warehouse real estate in Fort Lauderdale, North Miami, Aventura, Coral Springs, Pompano, Hollywood and Hallandale Beach, according to its website, and owns other assets within close proximity of Plaza Executive Centre North including a 66,439-square-foot warehouse/office-flex/showroom property at 900-1000 Park Centre Blvd,

Built in 1972, the property is within the Golden Glades area with close proximity to the Golden Glades Interchange and 15 minutes from Aventura, Sunny Isles, Miami Beach, Golden Beach, Hollywood and Hallandale. It features gated parking with a 5/1000 parking ratio.