Sunday, July 26, 2015

HFF closes REO sale of office park and development site in suburban Miami, FL



Lucky Start Executive Plaza, 8765 SW 165th Avenue, West Kendall, FL


Marty Busekrus
MIAMI, FL – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the REO sale of Lucky Start Executive Plaza, a two-building office park totaling 55,658 square feet plus a vacant development site in West Kendall, Florida.

HFF marketed the property on behalf of a regional bank, who had acquired the asset in a foreclosure auction.  IMC Property Management, Inc. purchased the asset for $12.5 million.

Lucky Start Executive Plaza is located at 8765 SW 165th Avenue about four miles south of the Tamiami Trail in the southwestern Miami suburb of West Kendall. 

 The property is within a few blocks of Baptist Health System’s newly-built, 30-acre medical facility as well as the proposed Kendall Town Center, which will include office, multi-housing, hotel, senior housing and community space.

 The property consists of two office buildings that are 54.1 percent leased to medical and professional tenants plus a vacant pad site for the future development of a three-story, 89,000-square-foot office building. 

 The HFF investment sales team representing the seller was led by director Marty Busekrus, associate director Jorge Portela and executive managing director Manny de Zárraga,.

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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