UM buys office building in Deerfield Beach

55,600 sf facility traded for about $150 psf

TRD MIAMI /
Jan.January 22, 2018 03:30 PM

Office building at 1300 East Newport Center Drive and nearby Sylvester at Deerfield Beach clinic (Credit: LoopNet and UM)

The University of Miami just paid $8.2 million for an office building near one of its clinics in Deerfield Beach, property records show.

The Coral Gables-based university bought the 55,600-square-foot office building at 1300 East Newport Center Drive for about $150 per square foot. Its Sylvester at Deerfield Beach clinic is nearby, at 1192 East Newport Center Drive. A spokesperson for the university was not immediately available for comment.

Records show 1300 Newport Center Drive LLC, managed by Orhan Karakaya, Hasibe Karakaya and Zuhal Karakaya, is the seller. The Karakayas bought the office building in 2014 for $5.4 million. It has remained vacant since then.

The University of Miami is also in the midst of expanding its Coral Gables campus. Last year it announced it was ready to spend $155 million to build an 1,100-bed dormitory complex next door.

Nearby developments underway in Deerfield Beach include Ram Realty Services’ mixed-use apartment complex, Deerfield Station; Group P6’s Elysian and Fordham condo buildings; and Pioneer Grove, a 119-acre redevelopment of the city’s old downtown.


Related Articles

arrow_forward_ios
1111 Southwest 30 Avenue (Credit: Google Maps and iStock)

Vitamin company sells warehouse in Deerfield Beach for $22M

JB’s on the Beach and Native Realty's Jaime Sturgis (Credit: Google Maps)

JB’s on the Beach site hits the market for $18M

50 Lock Road (Credit: Google Maps, iStock)

Bottoms up! Double Eagle Distributing center sells for $11M

2965 West Corporate Lakes Boulevard and Black Creek Group CEO Raj Dhanda (Credit: Google Maps, Blue Vault)

TIAA sells Weston warehouse for $33M

The Club at Crystal Lake, AHS Residential’s Ernesto Lopes

Deerfield Beach apartment complex sells for $30M

776-858 Military Trail and Denholtz Properties CEO Steven Denholtz

Denholtz Properties buys Deerfield Beach buildings for $28M

Praxis of Deerfield Beach Apartments and MRK Partners CEO Sydne Garchik

Affordable senior housing in Deerfield Beach sells for $24M

3201 Southwest 15th Street (Credit: Google Maps)

“Chicken Soup for the Soul” publisher sells Deerfield Beach building

arrow_forward_ios
Loading...