Flagler West Corporate Park sale closes for $25M

Miami /
Dec.December 30, 2014 12:00 PM

The $25 million sale of an 8.71-acre mixed-used property in Southwest Miami-Dade closed on Tuesday. CBRE arranged both the sale and financing of the site, which includes a 126,004-square-foot office building with a bank as a tenant and a 9,249-square-foot retail strip center in addition to a CVS drug store. 

Flagler West Corporate Center, LLC purchased Flagler West Corporate Park, located at the intersection of West Flagler Street and Southwest 87th Avenue, from Nationwide Theatres West Flagler, LLC. CBRE Debt and Structured Finance provided an $18.75 million CMBS loan and a $2 million mezzanine loan to Flagler West Corporate Center for the deal. 

The property is 85-percent leased.

“In addition to enjoying a strong identity by virtue of its hard corner location at a highly traveled intersection, the property benefits from the robust surrounding residential density and explosive projected growth – 7.43% within one mile over the next four years,” Miguel Alcivar, Senior Associate, CBRE Investment Properties, said in a press release. — Heather Grossmann

Related Articles

arrow_forward_ios
Lease roundup: Apparel company inks 142K sf lease in Miami Gardens & more
Lease roundup: Apparel company inks 142K sf lease in Miami Gardens & more
Lease roundup: Apparel company inks 142K sf lease in Miami Gardens & more
Clockwise: River Landing, Delray Commons and the PulteGroup office space
Lease roundup: Driveshack, GoPuff ink leases & more
Lease roundup: Driveshack, GoPuff ink leases & more
Developer Aria Mehrabi with renderings of the development (Banu Foundation, BRFLT)
Miami Beach board approves pharmacy for North Beach project
Miami Beach board approves pharmacy for North Beach project
Movers & Shakers: CBRE hires two senior vice presidents & more
Movers & Shakers: CBRE hires two senior vice presidents & more
Movers & Shakers: CBRE hires two senior vice presidents & more
CBRE CEO Bob Sulentic and Gordon Messinger (CBRE/Illustration by Kevin Rebong for The Real Deal)
Gordon Messinger joins CBRE from Cushman & Wakefield
Gordon Messinger joins CBRE from Cushman & Wakefield
From left: Miguel Solis, Mario Chirino, and Madelayne Garcia
Longtime Berkshire Hathaway team joins Elliman, CBRE taps new South Florida exec & more
Longtime Berkshire Hathaway team joins Elliman, CBRE taps new South Florida exec & more
101 Hialeah Drive with Marcus & Millichap’s Drew Kristol and Kirk Olson (Google Maps)
Hialeah CVS sells for $11M
Hialeah CVS sells for $11M
Fourth Avenue Church of God (Google Maps)
Church near Flagler Village to be redeveloped into mixed-use project
Church near Flagler Village to be redeveloped into mixed-use project
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...