Shorenstein Properties LLC acquired the Two & Three MiamiCentral portfolio in Miami for $170.5 million, or about $536 per square foot, from Flagler Real Estate Services LLC.
Two MiamiCentral totals 190,583 square feet over 10 stories at 700 NW MiamiCentral Ave. and Three MiamiCentral is a 12-story, 127,356-square-foot building located at 161 NW 6th St. The two buildings were constructed in 2018 on roughly 1.8 acres in the Downtown Miami submarket of South Florida.
The buyer financed this previously announced acquisition in part by assuming a $103 million loan held by Wells Fargo Bank N.A.
Miles Theodore, Brett Siegel and Mark Zebouni with Eastdil Secured LLC represented the seller. The buyer handled the sale in-house.
Please see CoStar COMPS #4743489 for more information. on this transaction