TA Realty sells Waterford at Blue Lagoon building to NY firm for $11M

TA Realty sold the building at a slight loss from its 2011 purchase price

TRD MIAMI /
Aug.August 23, 2017 10:30 AM

5835 Blue Lagoon Drive

TA Realty just sold an office building at the Waterford at Blue Lagoon office park in Miami for $10.55 million, property records show.

The buyer is Blue Lagoon Investments LLC, an Islip, New York-based entity controlled by Doug Davis.

The four-story, 57,565-square-foot office building at 5835 Blue Lagoon Drive traded for about $180 per square foot. Records show the Boston-based asset manager sold the property at a loss: it paid $11 million for the building in 2011.

The building was built in 1988 and is 71.5 percent leased, according to a press release. Features include a two-story lobby and a private helipad. Marcus & Millichap’s Douglas Mandel and Benjamin Silver represented the seller.

Main tenants in the building include Volvo Group North America, Florida Department of Education and The Interpublic Group of Companies, an advertising company.

Some neighboring notable tenants at the Waterford at Blue Lagoon office campus include Club Med, Discovery Channel Latin America, Johnson & Johnson, Loreal Retail Americas, Oracle and Regus.

TA Realty has been active on the selling side in South Florida. It recently sold a portfolio of office and warehouse space in Miami-Dade for $60 million. Last year, the firm also sold the Centurion Tower in West Palm Beach for $26 million, and the Northpoint Corporate Center, also in West Palm, for $15 million.


Related Articles

arrow_forward_ios
Fendi Chateau, Gary Rosenbach (Credit: Shawn Ehlers/WireImage/Getty Images)

Hedge funder pays $7M for Fendi Chateau condo in Surfside

Hedge funder pays $7M for Fendi Chateau condo in Surfside
Mike Sales CEO of Nuveen Real Estate and Waterford at Blue Lagoon

Waterford at Blue Lagoon will have outdoor yoga and food trucks

Waterford at Blue Lagoon will have outdoor yoga and food trucks
2965 West Corporate Lakes Boulevard and Black Creek Group CEO Raj Dhanda (Credit: Google Maps, Blue Vault)

TIAA sells Weston warehouse for $33M

TIAA sells Weston warehouse for $33M
301 Center Island Drive, Tara Elias Schuchts (top) and Lydia Eskenazi

Carl Icahn’s stepdaughter snags waterfront Golden Beach house for $7.3M

Carl Icahn’s stepdaughter snags waterfront Golden Beach house for $7.3M
Bob Sheetz and 133 West Coconut Palm Road

Ah Sheetz! Founder of popular convenience store sells Boca Raton estate

Ah Sheetz! Founder of popular convenience store sells Boca Raton estate
Blackstone CEO Stephen A. Schwarzman and 5120 Northwest 165 Street

Blackstone buys two Miami Gardens industrial properties for $14M

Blackstone buys two Miami Gardens industrial properties for $14M
Michael and Michelle Hagerty, and their home in Royal Palm Yacht & Country Club (Credit: Keeping the Promise, Realtor)

Vodka heir pays $6M straight up for Boca Raton estate

Vodka heir pays $6M straight up for Boca Raton estate
State report finds open gas valve fueled building explosion at Plantation shopping center

State report finds open gas valve fueled building explosion at Plantation shopping center

State report finds open gas valve fueled building explosion at Plantation shopping center
arrow_forward_ios

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

Loading...