The Real Deal Miami

Coral Gables notches $8.5 million office sale

May 06, 2009 12:36PM

Real estate investment group Kendar Realty bought a pair of office buildings from Sunset I Ventures in a recently closed deal, paying $8.5 million, equivalent to $172 a square foot. The Park Place I & II buildings, at 1500 Monza Avenue and 1501 Venera Avenue, are fully leased, and Baptist Health South just renewed its lease. There are 22 tenants in the complex. Miami-based Colliers Abood Wood-Fay represented the seller.