Green Companies snags offices in Kendall

Green Companies bought the property for $209 psf

Nov.November 22, 2019 01:30 PM
11731 Mills Drive and David Duckworth, Michael Fay and John Crotty

11731 Mills Drive and David Duckworth, Michael Fay and John Crotty

The Green Companies purchased a four-story Class A office building in Kendall for $13.2 million.

The Green Companies bought the 63,206-square-foot building at 11731 Mills Drive in Miami for $209 per square foot, records show. The seller is Nuveen, a subsidiary of TIAA.

The property is 84.6 percent occupied by two tenants, Everglades University and VITAS Healthcare, according to a release.

Avison Young’s John K. Crotty, David Duckworth, Michael T. Fay, Brian de la Fé, Berkley Bloodworth and Emily Brais represented the seller in the deal.

The office building is near Florida’s Turnpike and Kendall Drive and is close to Baptist and Kendall Regional hospitals. The building was built in 2008. The land last sold for about $3 million in 1998.

According to Avison Young’s third-quarter Miami-Dade County office market report, demand remains strong in Kendall with the lowest vacancy rate in the county at 6.5 percent.

The Green Companies is a Miami-based, family owned real estate business. Its portfolio includes the Dadeland Centre offices in Miami.

Last year, the Green Companies paid $18.5 million for a nearly 80,000-square-foot Class A office building in Plantation.

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