Miami Office Property Sells for $3.2 Million at $578 per Square Foot

Town Center One - 8950 SW 74th Court, Suites 1408-1411 in Miami, FL sells for $3.2 million at $578 per square foot.

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Miami Office Property Sells for $3.2 Million at $578 per Square Foot

Miami’s commercial real estate market has seen a lot of activity lately, and the latest deal to make headlines is the sale of Town Center One - 8950 SW 74th Court, Suites 1408-1411. The 5,536 square foot office property was sold for 3.2 million, which works out to 578 per square foot.

The seller of the property has not been disclosed, but the buyer is known to be a private investor. The deal was facilitated by brokers, although their identities have not been revealed either.

Located in the heart of Miami, Town Center One is a Class A office building that offers a range of amenities and services to tenants. The property features modern architecture, ample parking, and easy access to major highways and public transportation. It is also close to a variety of restaurants, shops, and other businesses, making it an attractive location for companies looking to establish a presence in the area.

The sale of Town Center One is just the latest example of the strong demand for commercial real estate in Miami. With its growing population, vibrant economy, and favorable business climate, the city has become a hot spot for investors looking to capitalize on the region’s growth potential. As a result, prices for office, retail, and industrial properties have been on the rise, and experts predict that this trend will continue in the coming years.

Overall, the sale of Town Center One is a positive sign for Miami’s commercial real estate market. With its prime location, high-quality amenities, and strong demand from tenants, the property is likely to continue to generate strong returns for its new owner. And with the city’s economy showing no signs of slowing down, investors can expect to see more deals like this in the future.