MIAMI—In a deal arranged by Marcus & Millichap, the 21/22 Center office/retail building on Coral Way here has traded for $13 million.
The eight-story, 74,461-square-foot building is located on the corner of Southwest 21st Avenue and Coral Way at 2103 Coral Way in Miami. The 21/22 Center features 18,356 square feet of ground floor retail space and 56,105 square feet of office space.
Douglas K. Mandel, a first vice president investments, and Benjamin H. Silver, an associate vice president investments, both with Marcus & Millichap’s Fort Lauderdale office, represented both principals in the transaction. Marcus & Millichap in its announcement did not reveal the identity of the buyer or the seller in the transaction.
The building was constructed in 1983 utilizing cast-in-place isolated column footings and continuous footings. The exterior walls are finished with painted stucco and the building is fitted with an aluminum and glass curtain wall system and aluminum and glass windows. An attached five-story parking garage provides direct entrances to the office building from the second through fifth floors and accommodates 172 parking spaces.