It is located at 14750 NW 77th Court with direct frontage on Palmetto Expressway, "a great location at the center of Miami-Dade and Broward counties with excellent accessibility to a wide employment base," says John Bell, SVP and head of South Florida investment sales in the Miami office of Trammell Crow Co. Bell represented the seller and is the sole broker in the transaction. The asset has an enclosed two-story atrium and a parking garage with a ratio of nearly 4.3 spaces per 1,000 sf, he adds.
"This represents a strong price in the Miami Lakes market," Bell tells GlobeSt.com, "but there is still room for growth in the perceived value of office properties here." AMC Delancey, he says, "acquired the building several years ago, repositioned it and leased it up. It was an opportune time for them to sell." The asking rental rate in the building, he says, is between $24 per sf and $26 per sf.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
