Coral Gables Office Complex Goes On The Block For Target Price Of $125M
The Coral Gables listing follows a series of notable divestitures by DWS in the region.
The Coral Gables listing follows a series of notable divestitures by DWS in the region.
The sale price breaks down to approximately $417 per square foot.
Originally built in 1925, echo was repositioned in 2021 and offers Class A office space with approximately 10,000 square feet of ground floor retail and a 257-space parking garage.
JLL represented the seller and procured the buyer.
JLL represented the seller, Pearlmark, and procured the buyer, CS Ventures.
Class A office rental rates are exceeding $75 gross in Coconut Grove.
The mission-critical facility will soon house approximately 900 employees that facilitate the billing, scheduling and telemedicine services for the healthcare group.
JLL represented the seller, Ivy Realty, in the sale of the property.
The 18-story tower was repositioned from a Class B to a Class A asset and is currently 61% leased.
When it closes in two weeks, it will be South Florida’s largest office sale in more than a year.
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