New York firm closes 2nd sale of a Miramar office building this year, collects $45M

Gramercy Property Trust sold a Royal Caribbean Cruises operations center after divesting a DeVry University facility
May 12, 2019 04:00PM

14700 Caribbean Way in Miramar (Credit: Google | South Florida Business Journal)

New York-based Gramercy Property Trust sold its second office building in Miramar this year for $45 million.

An affiliate of Gramercy, RT Miramar II LLC, sold the 134,786-square-foot office building for about $334 per square foot.

The property, an operations center for Royal Caribbean Cruises, last sold in 2009 for $26 million, or about $193 per square foot.

The new owner of the office building at 14700 Caribbean Way is 14700 Caribbean Way LLC, led by manager John Laoui in Hallandale Beach.

The new owner got a $29.25 million mortgage loan from UBS AG in connection with the property purchase.

The office building was constructed in 2001 on a 10.4-acre site near the Miramar Parkway exit off Interstate 75.

Three months ago, Gramercy Property Trust got $19 million for selling a 97,690-square-foot office building in Miramar leased by DeVry University. DeVry has been the sole tenant of the building at 2300 Southwest 145 Avenue in Miramar since it was built in 2002. [South Florida Business Journal]Mike Seemuth