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South Florida

Tishman Speyer sells Brickell Key office complex

Courvoisier Centre
Courvoisier Centre

An Orlando investor announced its acquisition of the Courvoisier Centre office complex in Miami’s Brickell Key.

Parkway Properties released a statement on Wednesday revealing it paid about $146 million, or $422 per square foot, for the two-building complex at 501 Brickell Key Drive. New York-based Tishman Speyer sold the Class A buildings to Parkway. The transaction has not been recorded by Miami-Dade County.

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The transaction was first reported locally by South Florida Business Journal. JLL brokers Jeff Morris, Denny St. Romain and Jubeen Vaghefi arranged the sale.

A $10 million renovation of the complex was completed last year, according to Parkway. The 346,000-square-foot Courvoisier Centre is more than 83 percent leased.

“The acquisition of Courvoisier Centre supports our strategy of acquiring best-in-class assets within the strongest submarkets across the Sunbelt,” Parkway president and CEO James Heistand said in the company’s announcement. “The buildings’ high-end amenity base, along with available parking infrastructure and water views, makes Courvoisier Centre a highly desirable asset.” — Eric Kalis

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BrickellTishman Speyer Properties