On Cue: Florida Grand Opera sells its Doral headquarters for $7M
Imagik International Corp., which makes in-flight entertainment systems, bought the property
Florida Grand Opera performed its final sale of a mixed-use building it owned in Doral.
Florida Grand Opera sold the 35,779-square-foot building at 8390 Northwest 25th Street for $7 million or $196 per square foot, according to a press release. Miami-based Imagik International Corp., which makes in-flight entertainment systems, bought the property.
The building, called Doral Center at 25th, was developed in 1997 on a 1.7-acre site. The two-story building features 18,068 square feet of office space, 22-foot clear heights, three dock-high doors and more than 60 parking spaces.
The property last traded hands for $6.2 million in 2016, records show.
The building was fully occupied by Florida Grand Opera, where it housed the organization’s administrative, production and artistic functions. Florida Grand Opera will be relocating, according to the release.
Florida Grand Opera is one of the oldest performing arts organizations in Florida. Florida Grand Opera was formed in June 1994 through the merger of Greater Miami Opera, which was founded in 1941, and The Opera Guild Inc. of Fort Lauderdale, which was founded in 1945.
Cushman & Wakefield’s Wayne Ramoski, Gian Rodriguez and Skyler Stein represented Florida Grand Opera in the sale. Pedro J. Garcia and Rudford Hamon of Binswanger-Gateway Partnership represented the buyer.
Investors and developers have been targeting Doral in recent years.
In May, Blackstone Group paid $208.75 million for a pair of neighboring apartment complexes in Doral. The Related Group and Rockpoint Group sold the 720 units, split between Doral View at 901 Northwest 97th Avenue and Town Fontainebleau Lakes at 1062 Northwest 87th Avenue.
In June, Publix Super Markets paid $70 million for Doral Plaza Shopping Center, anchored by the grocery store. The company bought three properties at 9755 Northwest 41st Street, 9785 Northwest 41st Street and 9701 Northwest 41st Street, just about two blocks away from Showplace at Doral.