The Real Deal Miami

Kendar office building unloaded for $10.3 million in Coral Gables

September 21, 2012 12:00PM

The Kendar building

The Kendar office building in Coral Gables has been sold for $10.3 million, according to Marcus & Millichap, which handled the deal in conjunction with Coral Gables-based Mazzei Realty Services. The 43,671-square-foot, five-story building is located at 1550 Madrugada Avenue in Coral Gables. Marcus & Millichap’s Benjamin Silver handled the deal. The Class B property is 97 percent occupied, with tenants including Mark Rivlin, P.A., Mazzei Realty Services and the Ethel and W. George Kennedy Foundation. The price worked out to an average of $236 per square foot. — Alexander Britell