Office in the Grove

Miami, FL

Property Characteristics

  • Fully-leased 76,000 square foot office building

Acquisition

  • April 2014

Investment Opportunity

  • Off-market, unsolicited transaction
  • Positioned at the heart of Coconut Grove’s ongoing renaissance
  • Located between two ultra-luxury condo developments designed by renowned international architects
  • High-quality, in-place office tenants

Execution

  • Purchased at an in-place yield commensurate with comparable office buildings
  • Site is one of the best redevelopment parcels remaining in Coconut Grove