Transactions included the $14.5 million sale of the 2500Building at the corner of NW 25th Street and 79th Avenue and the$4.7 sale of the 3901 Doral Office Building at 3901 NW 79th Ave.The sale price of the 25,506-sf 3901 Doral Office Building equatesto $186 per sf and the sale price of the 100,115-sf 2500 Buildingreflects $145 per sf.

DTZ Rockwood, which recently opened an office in Miami, handledboth transactions. "This is indicative of the upside in a market,with rising rents and intense demand for small office space in thebustling Doral office market," managing director John Bell tellsGlobeSt.com. "Doral is considered a highly attractive growth marketby investors, and the gateway to Latin America."

DTZ Rockwood represented the American Cancer Society, whichoccupied nearly a third of the space at the 3901 Doral Building, inthe transaction. The organization is currently searching for newspace under the leadership of Bob Orban of Studley. Ray Carson,division senior vice president for support services for thesociety's local chapter, tells GlobeSt.com the hot Doral market wasamong reasons why the organization decided to sell the officebuilding. "We decided the timing was right to sell this asset," hesays. "We're looking to move our staff closer to where cancerpatients are being treated."

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
NOT FOR REPRINT

© 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.