The medical office building is leased long-term to the University of Miami (UM) Hospital.
The portfolio consists of seven multi-tenant office buildings totaling 308,305 square feet.
“Despite the many challenges our world has been facing due to the pandemic, the commercial real estate industry is booming, and South Florida is a top destination for business relocation,” said Christopher Thomson, the 2022 president.
At $226 per square foot, the sale represents the highest price per square foot in Cypress Creek over the past decade.
The newly proposed mixed-use lifestyle project spans 31 acres.
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.
“I am looking forward to a rewarding new year in commercial real estate,” said 2021 NAIOP South Florida Chapter President Ryan Nee. “As president, I will work to facilitate new alliances among members that will support personal, professional and economic development throughout the tri-county. While the pandemic limited face-to-face engagement in 2020, we are eagerly committed to offering new ways for our members to engage and thrive in 2021.”
The asset totals 259,458 square feet on 14.31 acres in Broward County’s Cypress Creek submarket.
The assignment comes less than six months after Avison Young was assigned to lease a 9-building portfolio totaling 940,319 square feet. CLICK ON THE HEADLINE FOR MORE
After residing in the Weston Park of Commerce for the last 10 years, American Express is leaving its offices behind and a tech company is moving in. CLICK ON THE HEADLINE FOR MORE
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