Real estate investor and motivational speaker Grant Cardone bought the Harbour Centre at Aventura office complex for $93 million, The Real Deal has learned.
Cardone bought the offices at 18851 Northeast 29th Avenue next door to his 10X headquarters. He envisions merging the two properties into a walkable mixed-use campus with affordable housing, he said. City National Bank in Miami provided a $65 million acquisition loan.
The seller was Aventura Harbour Borrower LLC, linked to Irving, Texas-based C-III Capital Partners, records show.
Cardone’s real estate investment firm Cardone Capital and his sales training company Cardone Training Technologies are both based at the 10X building at 18901 Northeast 29th Avenue.
The building may be redeveloped with apartments, and employees at the property would move into the newly acquired offices as vacancies become available, he said.
The mixed-use redevelopment is a long-term vision that would need city approval. “It’s just an idea right now,” he said.
In the short term, Cardone plans $12 million for tenant space and common area improvements at Harbour Centre. It will be rebranded as The 10X Center.
The property includes an 11-story building with floor-to-ceiling glass windows, a garage and a one-story building, all on 3.8 acres. Tenants include UBS, Brilliant | Rothenberg Orthodontics, IberiaBank and Intrinsic Solutions notary.
Cardone said he has secured five new tenants that will occupy 22,000 square feet of the 32,000 square feet of vacant space at the complex. They are: an incubator from Arizona, a national magazine, a dentist, a chiropractor and a regenerative medicine practitioner.
The office deal comes on the heels of another big Cardone purchase. He just paid $69 million cash for the Camino Real Apartments in Boca Raton. Seller Morgan Properties had bought the multifamily complex for $46.8 million in March, as part of a $1.8 billion national apartment portfolio shopping spree.
Cardone is an author and is known for his sales training, public speaking events on leadership and his other ventures, all under his 10X stamp, aimed at motivating and growing businesses. He holds the 10X Growth Conference, and his books include “The 10X Rule: The Only Difference Between Success and Failure.”
Cardone also just bought a Golden Beach estate for about $28 million from Tommy Hilfiger, who spoke at Cardone’s recent 10X conference.