(Read more on the net lease market.)

MIAMI-A&E Partners LPI has acquired a 101,266-sf office building at 19500 S. Dixie Hwy. for $15 million, or $148.13 per sf.

The property, situated on 10.13 acres, is net leased to a single tenant, PRC, which provides strong current cash flow and significant upside through future development on the land on South Dixie Highway. The seller was Parker Real Estate Partners III LLP, which was represented by Wesley Parker, who was with the Fitzgerald Group and is now with Staubach.

Colliers Abood Wood-Fay brokers John Crotty and David Metalonis represented the buyer. “The area where the building is located is a busy commercial corridor in the fastest growing area of Miami-Dade County,” Crotty tells GlobeSt.com. “We represented the buyer who was interested in the current income and ability to potentially redevelop the property at the end of the lease term.”

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