Miramar Office Buildings Change Hands In Portfolio Trade

Duke Realty Corporation, part owner of Miramar I and II office buildings in Fort Lauderdale, has sold them to JV partner Chambers Street Properties in a portfolio trade.
Duke and Chambers Street had together owned the portfolio of 17 buildings that included the 223,000 square feet of space at Miramar I and II. The portfolio includes properties in Texas, Arizona, North Carolina, Minneapolis and other parts of Florida.
Chambers Street and Duke Realty have been joint venture partners since 2008. They are still joint venture partners on a portfolio of 20 properties, with the former owning 80 percent of the investment.
“The transaction is in keeping with our fundamental investment strategy while still allowing us to continue with our successful relationship with Duke Realty on the remaining assets held by the JV,” said Philip L. Kianka, executive VP and Chief Operating Officer, Chambers Street Properties.
Source:  SFBJ
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