"The property was sold by an offshore private group from Germanythat was looking to readjust its US portfolio," Manny de Zarragatells GlobeSt.com. "The seller had owned the property for 20years." The Holliday Fenoglio Fowler executive managing director,along with , managing director Hermen Rodriquez and real estateanalyst Ignacio Portuondo represented the seller. The CongressGroup was led by Dean Stratouly in the deal.

The 11-story building's main tenant is Helm Bank, one of themany Edge Banks on Brickell Avenue. Space rents for $36 per sf.Neighboring properties include the Espirito Santo Plaza/ConradHilton, the Four Seasons Hotel and Tower and the Mandarin OrientalHotel. "Brickell Avenue is considered to be one of the mostimportant financial districts in the Southeast," de Zarraga says."The office market in this area is seeing record-high occupancylevels."

The property offers significant development rights beyond theexisting building. Although the Congress Group plans to develop thesite in the future, the company does not have specific plans forthe site yet. "999 Brickell is a landmark property with futuredevelopment potential for office, residential or hotel relateduses," de Zarraga says. "There's a lot of flexibility in what couldbe built."