Sumitomo closes on Miami Center

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Sumitomo Corporation of America announced today that it has closed on Miami Center on South Biscayne Boulevard. The company paid $260 million for the 782,210-square-foot building, which is 96 percent leased. Citigroup, with a 185,487-square-foot lease that extends through 2020, is the building’s largest tenant. Sumitomo Corporation of America is the U.S. branch of the Japanese Sumitomo Corporation.