In addition, another Brickell trophy, 1221 Brickell, has been put on the sale block. The 27-story, 385,052-sf building is also known as the Greenberg Traurig Building, a name taken from the law firm that is its major tenant. It was built in 1986. Although it suffered broken windows from debris during Hurricane Wilma, it remained nearly fully occupied following the storm. On condition of anonymity, an area office broker tells GlobeSt.com that it should command a per-sf-price comparable to 1401, which would put the price tag in the $123-million range.

The 1401 Brickell asset was built in 1973 and fully renovated in 1992. It is 97% occupied, and major tenants include Banco Santander and Citibank.

A team from the local office of Holliday Fenoglio Fowler LP represented locally based American Ventures Property Fund I and Blumberg/Brickell Ltd. in the sale. The team included Manny de Zarraga, executive managing director; Dan Carlo, senior managing director; Hermen Rodriguez, managing director, and Kimberly Flores, associate director. "It's a trophy building centrally positioned in one of South Florida's most dynamic and desirable office submarkets," de Zarraga says.

Carlo adds, "Testa's purchase highlights the significance of Miami and Brickell Avenue to major international investors," a factor that is underscored in a recent South Florida office report from Marcus & Millichap. The report says South Florida is continuing to import new capital, creating a "windfall" for current owners, and it singles out Miami's financial center in particular. Brickell is the heart of Miami's financial center.

HFF is also marketing 1221 Brickell under the direction of Carlo, Flores and Danny Finkle. The seller is "an off-shore investment group," Carlo tells GlobeSt.com. "There is no asking price," he says, adding, "a lot of investors are looking at Miami," but declined to comment further.