Brookfield buys Comcast-leased Miramar building for $29M

11-acre property has development potential for a second building

Miami /
Jun.June 07, 2021 04:30 PM
Brookfield Property Group CEO Brian Kingston and  a rendering of 15800 Southwest 25th Street (Brookfield, Rendering courtesy of Newmark)

Brookfield Property Group CEO Brian Kingston and  a rendering of 15800 Southwest 25th Street (Brookfield, Rendering courtesy of Newmark)

Brookfield Property Group paid $29 million for a Miramar building that is fully leased to Comcast.

Brookfield, through an affiliate, bought the property at 15800 Southwest 25th Street from 15800 Building LLC, managed by Arturo Alvarez Demalde of AD4 private equity firm in South Florida, records show.

Steve Medwin and Nick Wigoda of Newmark were the sole brokers on the deal.

Comcast has been leasing the 92,000-square-foot building since 2017 as its call- and operations center, according to a news release. The building was built in 2000 at the Miramar Centre Business Park and includes a raised floor, gym, on-site cafeteria and 650 parking spots.

It sits on 11 acres, allowing for surplus land where an additional building of equal size can be constructed, according to the release.

The seller bought it in 2016 for $23 million, records show.

Brookfield Property Group, with an office in New York, is the real estate investment arm of Toronto-based alternative asset manager Brookfield Asset Management. Brookfield Property Group, led by Brian Kingston, oversees 320 million square feet of real estate globally and is developing more than 40 million square feet, according to its website.

The purchase comes on the heels of several Broward County industrial and office deals.
In May, Realterm Logistics bought the industrial property at 1900 Northwest 21st Avenue for $28.6 million.

Also in May, Banyan Street Capital, in a joint venture with Independencia Asset Management, bought the two-building Weston complex at 2500 Weston Road and 2700 South Commerce for $52.25 million; and Midtown Capital Partners bought a newly built office building at the Plantation Pointe business park for $78 million.






    Related Articles

    arrow_forward_ios
    Developer David Edelstein and Robert Levine of RAL Development with the project (Getty, RAL)
    David Edelstein, partner close on missing piece of Wynwood assemblage for office towers
    David Edelstein, partner close on missing piece of Wynwood assemblage for office towers
    (Facebook via Golfview Flats)
    Snow Real Estate buys Sunrise apartments for $15M
    Snow Real Estate buys Sunrise apartments for $15M
    South Florida’s industrial real estate market experienced strong leasing activity, low vacancy rates and asking rent hikes (Getty)
    South Florida industrial sector keeps beating pandemic odds, Q2 report shows
    South Florida industrial sector keeps beating pandemic odds, Q2 report shows
    MG3 Group executives Marcelo Saiegh, Hernan Leonoff and Gustavo Bogomolni with the Doral Concourse at 8400 Northwest 36th Street (Photos via MG3, Cushman & Wakefield)
    Here’s what tenants pay at MG3 REIT’s Doral Concourse
    Here’s what tenants pay at MG3 REIT’s Doral Concourse
    Clockwise from top: Kenneth, Robert and Bradley Fishel with Aventura Corporate Center (Getty)
    Renaissance Properties sells Aventura office complex for $140M
    Renaissance Properties sells Aventura office complex for $140M
    Grover Corlew principal Mark Corlew with Bank of America Tower in Boca Raton (Grover Corlew)
    Grover Corlew buys Bank of America Tower in Boca Raton for $45M
    Grover Corlew buys Bank of America Tower in Boca Raton for $45M
    Inventory for single-family homes and condos fell, indicating a seller’s market (Getty)
    South Florida residential sales soar to $8B in June, led by luxury buys
    South Florida residential sales soar to $8B in June, led by luxury buys
    Rendering of the project and the location for the development (Google Maps, Native Realty)
    Former Fort Lauderdale church site to be reborn with offices, retail
    Former Fort Lauderdale church site to be reborn with offices, retail
    arrow_forward_ios

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

    Loading...