MIAMI—Another Downtown Miami office building has traded hands. 200 Southeast First Street just sold for $21 million.

Integra Investments, a full-service real estate private equity and development company, acquired the 12-story boutique office building. The asset sits at the intersection of First Street and Second Avenue, across the street from the future Whole Foods.

Colliers International represented both the buyer and seller in the transaction. Larry Stockton, who previously sold the building in 1997, represented Integra. The seller was co-represented by Colliers' Michael T. Fay, John K. Crotty, Xavier Cossard, and Biscayne Atlantic's Ben Small.

“Integra Investments has remained focused on acquiring prime assets in downtown Miami with the intention of renovating and delivering an upgraded boutique product to the market,” says Eduardo Otaola, development asociate of Integra, who led the transaction. “We continue to pay close attention to the office market for opportunities that create value-added potential for our expanding portfolio.”

200 Southeast First Street has direct access to Interstate 95. The building has about
140,000 square feet of office space and ground floor retail space and offers amenities like amenity 24-hour security. Office spaces also boast views of Downtown Miami and Biscayne Bay.

Integra plans to renovate the building upgrading its features to class A boutique office space status. Tenants include Ocean Bank, which occupies the ground-floor space, The Parkinson's Foundation, Brand Institute, Digiport, and Incubate Miami.

Integra has been involved in various acquisitions and dispositions in Miami's urban core already this year. The firm sold the Chase Bank office tower, located at 150 Southeast Second Avenue, in February 2014 for $23.5 million following extensive renovations. The firm also closed the sale of a 2.97-acre site at 300 South Miami Avenue, directly on the Miami River, for $33.1 million.