"We have been interested in re-entering the Florida market for some time and wanted to find a great property," says Tishman Speyer president Jerry Speyer. "We are excited to acquire Courvoisier Centre and about the long-term potential of the Miami market."
Jones Lang LaSalle managing director Tom Beneville, along with Jubeen Vaghefi and Jay Miele, handled the sale. The acquisition price was not revealed but at the time it was placed on the market, the property was expected to sell for more than $170 million.
Developed in the late '80s, Courvoisier Centre is the only office building on Brickell Key and offers 360-degree views of Biscayne Bay and Downtown Miami. The property includes 22,000 sf of retail space, tenant terraces and corner offices, a waterfront jogging park, drive-thru bank and a 923-space parking garage, which is the only public garage on Brickell Key Island. The property was 89% leased at the time of the sale with tenants including Credit Lyonnais, Sony Ericcson, Swire Pacific Holdings Inc. and Young and Rubicam.
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