Miami Office Property Sells for $6.35 Million

The Miami office property located at 161 Almeria Avenue has been sold for 6.35 million. The property spans 13,996 square feet and was sold at a price of 453 per square foot. The deal was completed on April 5th, 2022.

The buyer and seller in this transaction have not been disclosed. However, the brokers involved in the deal were likely instrumental in bringing the parties together and facilitating the transaction.

The property is located in the Coral Gables neighborhood of Miami, which is known for its upscale residential and commercial properties. The area is home to a number of high-end retailers, restaurants, and hotels, as well as a number of corporate offices.

The property itself is a Class B office building that was built in 1950. It features a mix of private offices and open workspaces, as well as conference rooms and other amenities. The property is currently fully leased, with a mix of long-term and short-term tenants.

The sale of this property is indicative of the strong demand for commercial real estate in Miami, particularly in the office sector. Despite the challenges posed by the COVID-19 pandemic, Miami has remained a popular destination for businesses and investors alike.

Overall, the sale of this Miami office property is a positive sign for the commercial real estate market in the city. With strong demand and limited supply, prices are likely to remain high for the foreseeable future, making Miami an attractive market for investors looking to capitalize on the city’s growth and potential.