The Real Deal Miami

LaSalle near deal to buy “Miami Vice” tower

November 22, 2010 09:42AM

The bids are in, and LaSalle Investment Management is nearing a deal to
buy Miami’s most famous office tower for about $120 million. The price
works out to about $200 per square foot, sources said. Closing is on
track for the end of the year. The seller is Wealth Capital Investments,
which paid $85 million in 2003 for the 47-story, 600,000-square-foot
high-rise located at 100 S.E. 2nd Street. It is currently 77 percent
leased. [SFBJ]