Construction honcho pays $17M for Kendall office buildings

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

TRD 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
Despite record high office vacancies across South Florida, average asking rates hit new highs

South Florida Q3 office rents hit record high, despite higher vacancies

South Florida Q3 office rents hit record high, despite higher vacancies
Tere Blanca and the Aventura office complex (Credit: Google Maps)

Aventura office complex Optima inks new leases

Aventura office complex Optima inks new leases
2290 and 2328 10th Avenue N, Lake Worth

Lake Worth Beach office buildings sell for $11M

Lake Worth Beach office buildings sell for $11M
Aria Mehrabi and renderings of the projects

Target-anchored mixed-use project planned for North Beach advances

Target-anchored mixed-use project planned for North Beach advances
Blackstone's Jonathan Gray and Stephen Schwarzman (Getty, iStock)

Blackstone to open office in South Florida

Blackstone to open office in South Florida
From left: Chris Maling, Donald K. DeWoody Jr., David Maling, and Alfredo Sanchez

North Palm Beach mixed-use property hits the market for $45M

North Palm Beach mixed-use property hits the market for $45M
Pablo Cejas, Bill Kerdyk, and 147 Alhambra Circle

Pablo Cejas adds to downtown Coral Gables assemblage

Pablo Cejas adds to downtown Coral Gables assemblage
John Bardis, Carlos Lopez-Cantera, and the office (Credit: Google Maps)

Medical co-working space operator buys Miami medical campus

Medical co-working space operator buys Miami medical campus
arrow_forward_ios

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

Loading...