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| Luis Castillo |
MIAMI, FL – HFF announced today that it has closed the sale
of the Ingraham Garage, a 630-space parking garage and retail building
in downtown Miami.
HFF marketed the property on behalf of Miami Parking
Ventures, LLC. A client advised by
LaSalle Investment Management purchased the property free and clear of existing
debt.
In addition to 630 parking spaces, the Ingraham Garage also
includes 14,447 square feet of ground-floor retail space.
The property is located in Miami’s central
business district at 225 SE 2nd Street, within walking distance of Bayfront
Park and across the street from the Metropolitan Miami complex, the location of
a new Whole Foods that is part of the ongoing Met 3 development.
The HFF investment sales team representing the seller was
led by managing director Luis Castillo along with executive managing director Manny
de Zárraga, associate director Jorge Portela and senior real estate
analyst Scott Wadler.
“Freestanding parking garages are scarce in our market and
rarely offered for sale, which made the Ingraham Garage a highly coveted
opportunity,” said Castillo.
 |
| Manny de Zarraga |
Miami Parking Ventures, LLC is controlled by Osprey
Investment Company, LLC, which was formed in 2005 and is the capital markets
and acquisition arm of the Osprey Group of Companies.
Osprey is a full
service real estate firm that owns and manages approximately 4.5 million square
feet of commercial and industrial properties throughout Michigan, Florida,
North Carolina and suburban Washington, D.C.
LaSalle Investment Management, Inc., a member of the Jones
Lang LaSalle group (NYSE: JLL), is a leading global real estate investment
manager, with approximately $48 billion of assets under management of private
and public property equity investments.
LaSalle is active across a range of real estate capital and operating
markets including private and public, debt and equity and its clients include
public and private pension funds, insurance companies, governments, endowments
and private individuals from across the globe.
For more information, visit www.lasalle.com.
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
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