The Real Deal Miami

Triarch buys Plantation Professional Park from Kislak

Triarch Capital Group paid $11.3M or $178 psf for the property
By Keith Larsen | March 11, 2019 03:30PM

Thomas Bartelmo, President and CEO of Kislak Organization

Triarch Capital Group paid the Kislak Organization $11.3 million for Plantation Professional Park, marking a sharp increase from the property’s last sale price three years ago.

Miami Lakes-based Kislak sold the 63,319-square-foot-property at 6710–6834 West Sunrise Boulevard for $178 per square foot, records show.

Kislak bought the six-building office park in 2016 for $5.1 million, according to records. The office park was built between 1987 and 1989 on a 7.8-acre site, according to a release. The Plantation Professional Park is currently about 96 percent occupied, with tenants including Dickens Sanomi Academy and American Access Care.

Cushman & Wakefield’s Greg Miller, Scott O’Donnell, Dominic Montazemi and Miguel Alcivar represented the Kislak Organization in the deal.

Aventura-based Triarch Capital Group was founded in 1996 by Daniel Halberstein, Mario Grosfeld, and Jorge Linkewer. It owns a number of properties in Aventura, including Artefacto Plaza, One Turnberry Place, and the Biscayne Harbour Shopping Center.

The Kislak Organization has acquired and managed more than 7,000 multifamily units, and brokered more than 1,550 commercial real estate transactions. Its founder Jay Kislak died in October at age 96. Kislak was a well known businessman and philanthropist in Miami, who started Kislak National Bank before eventually selling it to Banco Popular in 2005.