The Real Deal Miami

Aventura office building trades for $14.5M

Northern Trust Bank is main tenant of 24K sf building
March 06, 2015 10:29AM

Northern Trust Bank building and Alex Zylberglait

Northern Trust Bank building and Alex Zylberglait of Marcus & Millichap

The Northern Trust Bank building in Aventura was sold to a Coconut Grove-based company for $14.5 million, Marcus & Millichap announced recently.

Located at 18901 Northeast 29th Avenue, the 23,746-square-foot office building is primarily occupied by Northern Trust Bank, with Lifespring Financial taking up the remaining space. Both tenants are triple-net leased, according to a press release.

Alex Zylberglait, first vice president of investments in Marcus & Millichap’s Miami office, brokered the deal for both parties. The seller is an Aventura-based company called Gambel Aventura Prop.

Gambel purchased the property in 2001 for $2.5 million, according to Miami-Dade County property records. — Sean Stewart-Muniz