Florida East Coast Industries sells
Coral Gables HQ

Brightline’s holding company is moving to 3 MiamiCentral in Overtown

Miami /
Nov.November 17, 2017 01:12 PM

The building at 2855 South Le Jeune Road in Coral Gables with Mike Reininger (Credit: Google Maps, Florida East Coast Industries)

Florida East Coast Industries sold its Coral Gables headquarters as it prepares to move to its MiamiCentral development.

Property records show City National Bank paid $10 million for the office condo building at 2855 South Le Jeune Road. FECI affiliate Sevilla Building Ltd. is the seller.

Fortress Investment Group owns the holding company, which operates Brightline, Flagler Global Logistics and Flagler. Fortress acquired FECI for about $3.5 billion in 2007 and has more than $46 billion of assets under management, according to its website.

Flagler built the four-story, 32,250-square-foot building in 2007, according to a property listing from last year. City National purchased the 16 office condos that make up the fourth floor, where FECI has its corporate office. The Miami bank already owned the retail branch and drive-thru.

FECI is moving to 3 MiamiCentral, where it will take 20,000 square feet at the 90,000-square-foot Class A office building at 161 Northwest Sixth Street, which have an additional 35,000 square feet of retail space, according to a spokesperson.

Other MiamiCentral office tenants include Moss & Associates, Regus, Ernst & Young LLP, Regus and Cisneros. Rental rates are $33 to $35 per square foot, triple net, at 2 MiamiCentral and $29 per square foot at 3 MiamiCentral.

The buildings are part of Brightline’s 11-acre, mixed-use development slated to open soon in Overtown.


Related Articles

arrow_forward_ios
Ashar Aziz with an aerial of 8525 Old Cutler Road in Coral Gables (LinkedIn; Google Maps)
Hedge funder buys Coral Gables lot for $18M
Hedge funder buys Coral Gables lot for $18M
Kolleen OP Cobb and Countyline Corporate Park Building 26 (FECI)
FECI scores construction loan for Hialeah business park
FECI scores construction loan for Hialeah business park
Dan Azel & 130 Solano Prado, Coral Gables (Google Maps, LinkedIn)
Construction honcho buys waterfront Coral Gables home for $5M
Construction honcho buys waterfront Coral Gables home for $5M
8860 Hammock Lake Court (Boschetti Realty Group, LLC. via Redfin)
Developer Jose Boschetti sells his Coral Gables lakefront home for $7M
Developer Jose Boschetti sells his Coral Gables lakefront home for $7M
Alta Developers’ Raimundo Onetto and a rendering of the project
Alta pays $17M for Coral Gables site to build mixed-use multifamily project
Alta pays $17M for Coral Gables site to build mixed-use multifamily project
Sam Nazarian with 8815 Arvida Drive (Getty, REWS Miami - David Hernandez)
Sam Nazarian pays $14M for waterfront Coral Gables estate, plans to move from LA
Sam Nazarian pays $14M for waterfront Coral Gables estate, plans to move from LA
Life Time Coral Gables rendering with Niven Patel (Life Time, Ghee Hospitality)
Niven Patel, Graziano’s ink restaurant leases at Life Time Coral Gables
Niven Patel, Graziano’s ink restaurant leases at Life Time Coral Gables
Kolleen OP Cobb and 591 Evernia Street (FECI, Google Maps)
New York Life buys Brightline West Palm apartments for $115M
New York Life buys Brightline West Palm apartments for $115M
arrow_forward_ios

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

Loading...