RFR Realty Looking To Offload Downtown Miami Office Tower For $130 Million

RFR Realty has put its downtown Miami office tower, 100 Biscayne, on the market with an asking price of approximately $130 million.

The 30-story, 310,000-square-foot property at 100 Biscayne Boulevard is being marketed at roughly $419 per square foot.

A Newmark team led by Adam Spies and Adam Doneger is handling the listing.

RFR acquired the tower and an adjacent parking garage in 2022 for $81.1 million. The garage is not included in the offering, as it is part of a separate 2.2-acre assemblage where RFR is planning a nearly 1,000-foot mixed-use supertall project.

Following its acquisition, RFR completed interior renovations and structural improvements that helped raise occupancy to approximately 92 percent from about 60 percent. Recent leasing activity includes a long-term lease by Independence Pet Holdings and major renewals by LVMH and flexible office provider Mindspace.

 

Source:  The Real Deal