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The Real Deal Miami

USAA buys Las Olas Centre for $170M

September 16, 2010 11:15AM

Las Olas Centre

San Antonio-based investment advisor USAA Real Estate has closed its
transaction to buy the Las Olas Centre in downtown Fort Lauderdale for a
price of $170 million, according to a deed recorded in Broward County
Circuit Court late Wednesday. The sale of the 469,000-square-foot complex breaks
down to about $362 per square foot. The pricing is about a third lower
than what the property, a two-tower complex at 350 and 450 Las
Olas Boulevard, sold for in 2007. USAA also owns Datran Center in
Kendall. [SFBJ]