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