MIAMI-The Boston-based Congress Group has acquired a 96,718-sf office building at 999 Brickell Ave. for $28.5 million. The seller was a private Europe-based investment group.

“The property was sold by an offshore private group from Germany that was looking to readjust its US portfolio,” Manny de Zarraga tells “The seller had owned the property for 20 years.” The Holliday Fenoglio Fowler executive managing director, along with , managing director Hermen Rodriquez and real estate analyst Ignacio Portuondo represented the seller. The Congress Group was led by Dean Stratouly in the deal.

The 11-story building’s main tenant is Helm Bank, one of the many Edge Banks on Brickell Avenue. Space rents for $36 per sf. Neighboring properties include the Espirito Santo Plaza/Conrad Hilton, the Four Seasons Hotel and Tower and the Mandarin Oriental Hotel. “Brickell Avenue is considered to be one of the most important financial districts in the Southeast,” de Zarraga says. “The office market in this area is seeing record-high occupancy levels.”

The property offers significant development rights beyond the existing building. Although the Congress Group plans to develop the site in the future, the company does not have specific plans for the site yet. “999 Brickell is a landmark property with future development potential for office, residential or hotel related uses,” de Zarraga says. “There’s a lot of flexibility in what could be built.”

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