America's Capital Partners, State of Utah Retirement Systems and CBRE Investors were the sellers. CB Richard Ellis Institutional Group executive vice president Christian Lee, CBRE/Melody's South Florida Office managing director Charles Foschini and CBRE/Melody's South Florida Office Christopher Apone represented the sellers.

Lee tells GlobeSt.com that America's Capital Partners decided to sell the property because its investment objectives for the property had been met. "They wanted to turn a profit, it was time to sell," he says.

The landmark building is located in the Brickell submarket across from a Metrorail Station and blocks from Interstate 95. It is 95% leased to 56 local, regional, national and international tenants with a concentration in law firm and consulates. Noteworthy tenants include Washington Mutual Bank, the Beacon Council, the Brazilian Consulate, the Japanese Consulate, Rumberger, Kirk & Caldwell, Thornton, Davis & Murdock, Bovis Lend Lease, McAlphin & Brais, Mase & Gassenheimer and Butler Pappas.

The building has seen a tremendous increase in value over the past few years, due to in part to the growth of the Brickell submarket and to the completion of the Mary Brickell Village mixed-use project. When America's Capital Partners acquired the building for $50.2 million in 2005, Mary Brickell Village was still under construction. At the time, the seller was Brookwood Financial Partners LLC, which acquired the property in 2003 for $38.4 million.