Construction honcho pays $17M for Kendall office buildings

The seller had bought the buildings for $7.8M in 2009

Miami /
Oct.October 05, 2020 01:30 PM
Dan Azel with 8900 Southwest 107th Avenue and 10700 Southwest 88th Street (Credit: Google Maps)

Dan Azel with 8900 Southwest 107th Avenue and 10700 Southwest 88th Street (Credit: Google Maps)

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.


Related Articles

arrow_forward_ios
(The Real Deal illustration with Getty Images)
As Hurricane Ian approaches, builders secure Florida sites
As Hurricane Ian approaches, builders secure Florida sites
Related's Stephen Ross, Swire Properties' Kieran Bowers and renderings of One Brickell City Centre (LinkedIn, Getty, Swire Properties and Related Companies)
Swire, Related score approval to widen planned Brickell office tower
Swire, Related score approval to widen planned Brickell office tower
Babak Ebrahimzadeh with The Contemporay
Babak Ebrahimzadeh proposes West Palm office project
Babak Ebrahimzadeh proposes West Palm office project
AJP Real Estate’s Alberto Pérez and Thor Equities’ Joseph Sitt with Wynwood Walk and MedSquare Health medical offices ( AJP Real Estate, Thor Equities)
Lease roundup: AJP, Mas fully lease Kendall medical offices
Lease roundup: AJP, Mas fully lease Kendall medical offices
 Related Companies' Stephen Ross and a rendering of 515 Fern (Getty, Red Leaf NY)
Stephen Ross bets on West Palm office development — again
Stephen Ross bets on West Palm office development — again
Sabadell Financial Center at 1111 Brickell Avenue in Miami, 110 Tower at 110 Southeast Sixth Street in Fort Lauderdale and The Gateway at Wynwood at 2916 North Miami Avenue in Miami with J.C. De Ona of Centennial Bank’s Southeast Florida division, Dominic Montazemi of Cushman & Wakefield, Chris Lee of CBRE, Shelby Rosenberg of R&B Realty Group and Todd Rosenberg of Pebb Capital (Google Maps, LinkedIn, Pebb Capital, R&B Realty Group, Cushman & Wakefield, CBRE)
South Florida office sales falter, despite strong leasing
South Florida office sales falter, despite strong leasing
A rendering of the proposed office building and Michael Shvo (Kobi Karp, Shvo)
Michael Shvo plans second Miami Beach office project
Michael Shvo plans second Miami Beach office project
From left: Belong co-founders Tyler Infelise, Ale Resnik, and Owen Savir (Belong, Getty Images, Google Maps)
Lease roundup: Rentals manager Belong moves HQ to Brickell
Lease roundup: Rentals manager Belong moves HQ to Brickell
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...