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South Florida

Office complex in Miami-Dade sells for $11 million

Google Maps view of Westchester buildings sold by AdrianBuilders of Coral Way.
Google Maps view of Westchester buildings sold by AdrianBuilders of Coral Way.

Two companies affiliated with I.M.C. Property Management paid $11 million for an office complex in Miami-Dade County’s Westchester area.

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The four office buildings, located at 2760 Southwest 97th Avenue, were developed in 2001 by Alvaro Adrian’s Miami-based AdrianBuilders of Coral Way. The buildings occupy 60,278-square feet of space on a 4.5-acre lot. AdrianBuilders sold a 72 percent stake to Yoram Izhak’s MYA Properties and a 28 percent stake to Alan Lipton’s Coral Way 24 LLC, according to the South Florida Business Journal. Izhak and Lipton are both executives at North Miami-based I.M.C.

The two companies paid $182 per square foot for the complex, which is now 85 percent occupied. “We have already rented a couple of units and expect it to reach 100 percent [occupancy] very soon,” said Carlos Segrera, IMC’s acquisitions director. [South Florida Business Journal] – Chris Guanche

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Yoram Izhak