 |
| Bayview Executive Plaza, Coconut Grove, FL |
COCONUT GROVE, FL – Marcus & Millichap (NYSE: MMI), a
leading commercial real estate investment services firm with offices throughout
the United States and Canada, announced the sale of two office buildings in
Coconut Grove, Fla., Bayview Executive
Plaza and Continental Plaza.
The
total sales price for the two properties is $42 million.
The team
of Douglas K. Mandel, first vice
president investments, and Benjamin H.
Silver, associate vice president investments, both in Marcus &
Millichap’s Fort Lauderdale office, represented the seller and procured the
buyer, Allegra Holding.
 |
| Continental Plaza, Coconut Grove, FL |
“These
buildings are well positioned to reap the benefits associated with the
explosive growth of new developments in ‘The Grove’ and the buyer will be able
to take advantage of future spikes in demand that will push rental rates to new
highs,” says Mandel.
“Both assets provide tenants with access to secure and
covered parking, world-class restaurants and amenities, and were fully occupied
at the time of sale. Bayview Executive Plaza has spectacular views of Biscayne
Bay and downtown Miami.”
Located at 3225 Aviation Ave., Bayview Executive Plaza is
one block west of Bayshore Drive, the world-famous Monty’s Raw Bar and the
Biscayne Bay waterfront.
 |
| Douglas K. Mandel |
The 57,155- rentable-square-foot property is occupied
by a mix of professional tenants, including Femwell Group Health Inc., Wolfberg
Alvarez & Partners and Pinchasik Yelen Muskat Stein LLC. The building has a
covered parking garage and an elevated exterior plaza with seating areas.
Continental Plaza is a unique, 80,380-square-foot, five-story red-brick
building located at 3250 Mary St. across the street from the new Park Grove
development site, which is three planned 20-story condo towers plus retail and
office space. Tenants include The Downs Law Group and HealthSun Health Plans
Inc.
For a complete copy
of the company’s news release, please contact:
Gina Relva
Public Relations Manager
(925) 953-1716
No comments:
Post a Comment