Miami Office Tower Sale Closes For $274M
This sale marks a lucrative exit for the sellers, who bought the tower about seven years ago for $248.5 million.
This sale marks a lucrative exit for the sellers, who bought the tower about seven years ago for $248.5 million.
South Florida commercial real estate’s top talent and transformative projects honored during signature event. Manny De Zarraga received the Lifetime Achievement Award.
Colliers Vice Chair Stephen Rutchik represented the long-term tenant in the lease renewal. Cushman & Wakefield’s Brian Gale, Andrew Trench, Ryan Holtzman, and Edward Quinon represented the landlord.
The 33-story tower spans 687,000 square feet.
The 33-story bayfront tower is more than 90% occupied.
Brian Gale and Edward Quinon of Cushman & Wakefield represented the landlord in the lease negotiations. Holland & Knight LLP was represented by Todd Lippman and Shay Pope of CBRE.
Cushman & Wakefield’s Brian Gale, Andrew Trench, and Ryan Holtzman represented the landlord, Nuveen Real Estate, in the lease negotiations and Transwestern’s Glenn H. Gregory represented the tenant.
The new-to-market financial tenant brings the building to 96% leased.
The firm has closed its Boca Raton and Miami offices, and is considering tweaking their current lease agreement in West Palm Beach. CLICK ON THE HEADLINE FOR MORE ON THIS STORY
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