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Despite Challenges, SunTrust Center Trades for $90M

MIAMI—"The acquisition of this trophy asset was a tremendous challenge with a lot of moving pieces…”

Located at the crossroads of the Central Business District and the mile-long stretch of commerce along Las Olas Boulevard, SunTrust Center is a rare asset to come to market. Located at the crossroads of the Central Business District and the mile-long stretch of commerce along Las Olas Boulevard, SunTrust Center is a rare asset to come to market.

MIAMI—Steelbridge Capital has acquired the SunTrust Center, an institutional quality two-building class A office complex, in Fort Lauderdale, FL, for $90 million. That’s the largest office building to trade in Broward County’s Downtown submarket in the past 12 months.

Located at the crossroads of the Central Business District and the mile-long stretch of commerce along Las Olas Boulevard, SunTrust Center is a rare asset to come to market. The complex spans a fully city block—270,000 square feet—at 501 and 515 East Las Olas Boulevard. According to Steelbridge, it was hotly contested among local and national investors.

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Jennifer LeClaire

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