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| 301 Arthur Godfrey Road, Miami Beach, FL |
MIAMI, FL –HFF announced it has closed the sale of 301
Arthur Godfrey Road, an office building anchored by HSBC Bank in Miami
Beach, Florida.
HFF marketed the property on behalf of the seller, Cabi 301
Commercial, LLLP. A private investment
firm purchased the property for $15.125 million free and clear of existing
debt.
301 Arthur Godfrey Road is located at the intersection of
Pine Tree Drive along Miami Beach’s “Bankers’ Row”. The property is 100 percent leased to a
diverse mixture of tenants including HSBC Bank.
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| Hermen Rodriguez |
The 1.07-acre site is comprised of the six-story office building
and a parking lot, which provides future development potential.
The HFF team representing the seller was led by senior managing
director Hermen Rodriguez and director Ike Ojala and included
executive managing director Manuel de Zárraga and senior real estate
analyst Jorge Portela.
“This offering attracted broad domestic and international
investor interest. It confirms that
buyers globally are seeking high-quality assets in the Miami market,” said
Rodriguez.
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| Ike Ojala |
“Investors found the property’s highly visible gateway
location, at the eastern entrance of the Arthur Godfrey Road retail corridor,
often referred to as Bankers’ Row, as well as the long-term HSBC Bank lease and
additional development potential especially appealing,” added Ojala.
HFF’s investment sales team closed more than $4.9 billion in
office building sales nationally in 2012.
HFF closed more than $400 million in office transactions across all
capital markets platforms in the state of Florida during 2012.
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com
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