MIAMI-A Florida investor has recently acquired an office tower in downtown Miami for $262.5 million. Crocker Partners bought the Miami Center, a 786,000-square-foot skyscraper, from Sumitomo Corp. of America, an arm of Sumitomo Corp.
Crocker paid approximately $334 per square foot for the 34-story tower. This is the biggest office deal in Miami since 2008. Designed by Pietro Belluschi, the property was completed in 1983 by Theodore Gould. Nearly 16% of the office building is unoccupied. For the full story, go to Wall Street Journal .
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