In one of the most significant office building transactions of 2014, Bushburg Properties has purchased the 9250 West Flagler Street building, a 634,818 square foot signature property in the Miami Airport West submarket.
The property, which consists of a 6-story suburban hurricane resistant office building, sits on 26 acres of land is just west of Miami International Airport and within close proximity to the main campus of Florida International University.
As part of the revitalization of the building, it is being renamed Flagler Corporate Center. Gordon Messinger, Director of Commercial Brokerage at Cushman & Wakefield, will be in charge of the leasing and marketing of more than 235,000 square feet of space. The building offers an opportunity for large corporate users featuring some unique amenties including a rooftop helipad. In addition, the building offers a low-cost electric rate and is fiber optic ready provided by FPL FiberNet, a tenant occupying 400,000 square feet in the building.
“Flagler Corporate Center will be transformed into the premier multi-tenant office destination catering to the largest office requirements in South Florida, including a floor with 100,000 contiguous square feet available,” said Messinger. “The proximity to the Florida Turnpike, Palmetto Expressway and Dolphin Expressway, makes Flagler Corporate Center the ideal building for corporate users seeking a central location in Miami-Dade County.”
“We are pleased to make this investment in South Florida where we see tremendous opportunity to reposition this asset, by upgrading and updating finishes and fixtures in common areas and lobbies and entrance to give it a more visible vibrant and creative feel as a multi-tenant building,” said Joseph Hoffman, CEO of Bushburg Properties.
A company tied to Chateau Group’s Grosskopf family made a substantial profit on the $57.5 million sale of the building, Orot Flagler LLC, a Hallandale company managed by Manuel Grosskopf, paid $37 million for the properties in April 2011.
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