The 2500 Building was constructed in 1982 and renovated in 2005and 2006. The property's occupancy was in excess of 90% at the timeof the sale and is occupied mostly by small corporate tenants. Thesite provides a parking ratio of four spaces per 1,000 rentable sf.Trammell Crow Co. executive vice president and principal John Bellrepresented the seller, 2500 Building LLC, which is a locally basedprivate investment group.
Among the building's attributes is that it is located in theDoral section of Miami. "The Doral market has been one of thestrongest," Bell tells GlobeSt.com. "It is considered a gateway toLatin America."
Residential development in Doral has been strong with someoffice developments, such as the Doral Center, being converted intoresidential use. "Doral is a highly attractive growth area," hesays.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
