The head of a South Florida construction firm paid $16.8 million for a pair of adjacent office buildings in Miami’s Kendall neighborhood.
Companies managed by Dan Azel of Andale Group bought the buildings at 8900 Southwest 107th Avenue and 10700 Southwest 88th Street, records show. The second building’s address is also noted as 10700 North Kendall Drive. The office centers are called Capital Plaza I and II.
Azel scored a $10 million loan for the deal from Dade County Federal Credit Union, according to records.
The seller is a company managed by the Delgado family. Some Delgado family members are tenants of the Kendall Drive building through their Women’s Healthcare of Kendall practice. The Delgados bought the buildings in a $7.8 million deal in 2009.
The three-story Kendall Drive building was built in 1982. The 107th Avenue building was built in 1973, records show.
Other tenants of the buildings include a Barry University office and Maternity Options of Miami.
Azel’s Andale Group is a design and construction firm for commercial and industrial clients, according to his LinkedIn profile.
Other recent office sales in South Florida include $80 million for the DiVosta Towers in Palm Beach Gardens and $43 million for a Doral office complex.