The tenant is doubling its office space, adding a second floor to its previous lease at the mixed-use development, bringing the company’s total footprint to about 37,000 square feet.
Tony Arellano of DWNTWN Realty Advisors represented both buyer and seller in the transaction.
Formerly an industrial building, the stand-alone property has been fully converted for office and restaurant use and features a rooftop terrace.
JLL’s Eric Groffman, Cameron Tallon, and Emily Brais will spearhead leasing efforts.
The transactions include two retail and office buildings in South Miami.
Avison Young’s John K. Crotty, CCIM, Michael T. Fay, David Duckworth, Brian C. de la Fé, and Associates Emily Brais and Berkley Bloodworth closed the sale on behalf of the seller, Hersha Hospitality Trust.
The asset was the second of the seller’s 100% occupied, two-building portfolio to sell within three months, both sales totaling $17.2 million.
The asset totals 259,458 square feet on 14.31 acres in Broward County’s Cypress Creek submarket.
The pair of office buildings totals 96,674 square feet. CLICK ON THE HEADLINE FOR MORE
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