The property makes up the office component of a newly delivered mixed-use project with more than 150,000 square feet of high-end retail space located at the main intersection of Miami’s rapidly transforming City of Doral.
The asset last traded in November 2023 for $48 million.
Christian Lee, Andrew Chilgren, Marcos Minaya and Sean Kelly of CBRE brokered the transaction on behalf of both the buyer and seller.
The 131,680-square-foot property consists of two single-tenant net leased buildings.
The price equated to $267 per square foot.
The development broke ground in January this year with an expected completion date in the first half of 2024.
The complex is 90 percent leased to 40 tenants from a variety of industries including healthcare, law, finance and engineering.
The three Class-A office buildings total 222,682 square feet.
The office park last sold in 1996 for $15,875,000.
Christian Lee, José Lobón and Marcos Minaya of CBRE Capital Markets, and Jay Adams with Newmark represented the seller, Encore Capital Management, in the transaction.
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