Trade Centre South

Cypress Financial Center is an 11-story, 198,680-sf buildinglocated at 5900 N. Andrews Ave., which provides direct access toInterstate 95. It was built in 1987 and is 83% occupied. Among thetenants are Altadis USA, Brown & Brown Inc., and Tarragon SouthDevelopment. Jones Lang LaSalle's capital markets group arrangedthe sale. The quoted rental rate for space in the building is$28.50 per sf, according to JLL, which notes that class A rates inthis submarket have risen 5% in a year.

Robert Bradley, managing director of the Miami office ofHolliday Fenoglio Fowler, arranged a $33-million mortgage fromLehman Brothers Holdings to finance the acquisition. It is a10-year, fixed-rate securitized loan. HFF also provided financingfor Tricony's buy of Trade Centre South. "Tricony now owns two ofthe most prominent class A office buildings in the Cypress Creeksubmarket," Bradley says.