Saturday, July 25, 2015

$38 Million Office Building in Miami, FL Hits Market; Listed Exclusively by IPA


200 Southeast First building, Downtown Miami, FL

MIAMI, FL – Institutional Property Advisors (IPA), a division of Marcus & Millichap Inc. specializing in serving institutional and major private real estate investors, is pleased to announce it has obtained the exclusive listing for the 200 Southeast First Building, a 12-story, Class A office building with ground-floor retail in the heart of Miami’s downtown business district. The asset is listed for $38,000,000.

Douglas K. Mandel
IPA senior director Douglas K. Mandel and IPA director Benjamin H. Silver are representing the seller, a Miami-based real estate company.

“With its high-class finishes, unmatched location and amenities, plus an immense level of value-add upside potential through lease-up and rent escalation, the 200 Southeast First Building is poised to take advantage of the explosive growth happening in downtown Miami,” says Silver.

“The property’s rental rates are approximately half of those of similar-class buildings on Brickell Avenue. 

"Also, the property just underwent a multi-million-dollar renovation that included a new exterior façade and signage, lobby upgrades, elevator and corridor finishes, new digital security cameras and access control with card-swipe entry, a new fire and life safety panel and a new HVAC chiller.”

The 200 Southeast 1st Street Building is located just a few blocks from Brickell Avenue on the north of the end of the Interstate 95 downtown interchange in the heart of Miami’s downtown business district.

The full-service, first-class building offers 141,682 rentable square feet at the epicenter of the city’s booming construction and redevelopment area and is surrounded by cafés, restaurants, shops, hotels and other amenities. 

For a complete copy of the company’s news release, please contact:

Gina Relva, Public Relations Manager
(925) 953-1716


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