MIAMI BEACH, FL—Harbor Group International, LLCreports that a company affiliate has sold the 1801 AltonRoad office building here for $8 million.

The 20,603-square-foot property was purchased by HGI in 2010 ina sale/leaseback transaction with JPMorgan Chasefor $4 million. The identity of the purchaser was notdisclosed.

“As HGI continues to focus on commercial and retail propertiesin major urban markets, we are also capitalizing on dispositionopportunities within our portfolio,” says T. RichardLitton, Jr., president of HGI. “The property performed asprojected in our investment thesis and provided strong,risk-adjusted returns to our investors.”

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.