Sean Kelly, vice president at CBRE, said, “The submarket has attracted over 700,000 square feet of tenant relocations from other parts of Miami, as decision-makers prioritize proximity to home. Additionally, more than 150,000 square feet of new-to-Florida tenants have selected Coral Gables for their Miami headquarters.”
Colliers South Florida represented the law firm in the lease transaction.
JLL’s Seniors Housing Capital Markets team procured the buyer, AEW Capital Management, and secured the three-year acquisition loan through Capital One Bank on behalf of the buyer.
The second phase will consist of 342 rental units on a 2.7-acre development site with over 400 feet of unobstructed water frontage along the Miami River.
When it closes in two weeks, it will be South Florida’s largest office sale in more than a year.
AEW Capital Management, L.P. purchased the asset. CLICK ON THE HEADLINE FOR MORE
The deal represents the third major office deal on Alhambra Circle this month. CLICK ON THE HEADLINE FOR MORE
AEW Capital Management picked up the office towers for $245.5 million. CLICK ON THE HEADLINE FOR MORE
The 489,000-square-foot multifamily building was built in 2014. CLICK ON THE HEADLINE FOR MORE
The company has been doing business in South Florida for more than 35 years. CLICK ON THE HEADLINE FOR MORE
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