{"id":1004156825,"date":"2016-10-25T05:41:09","date_gmt":"2016-10-25T13:41:09","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004156825"},"modified":"2021-05-14T21:35:41","modified_gmt":"2021-05-15T05:35:41","slug":"miami-commercial-campus-trades-for-12m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/miami-commercial-campus-trades-for-12m\/","title":{"rendered":"Miami Commercial Campus Trades for $12M"},"content":{"rendered":"

By Carmen <\/i>Horghidan<\/i><\/p>\n

\"Bent<\/a>

Bent Tree Commercial Center, 13926 SW 47th St., Miami, Fla.<\/p><\/div>\n

Miami<\/strong>\u2014Marcus & Millichap<\/a>‘s Institutional Property Advisors division recently negotiated the sale of Bent Tree Commercial Center, a 52,664-square-foot commercial campus located at 13926 SW. 47th St. in Miami. Built in 1999, the property is situated on 5.5 acres and traded for $11.5 million.<\/p>\n

According to Yardi Matrix<\/a>, the seller was Innovative Development Group<\/a>, which bought the property at the end of 2015 from Mattia College. The buyer remains undisclosed. Marcus & Millichap Senior Vice President & IPA<\/a> Senior Director Douglas Mandel, together with Marcus & Millichap Vice President of Investments & IPA Director Benjamin Silver represented the seller in the transaction, which closed Oct. 14.<\/p>\n

The campus-style office park represents an expansion for the new owner, which plans to optimize the center for medical use. The property features eight two-story buildings and a total of 253 parking spaces.<\/p>\n

\u201cWhile a fully vacant office park would typically be a challenging property to sell, it was an attribute, in this scenario, due to the extreme scarcity of available space in Kendall, as well as the property\u2019s unparalleled parking ratio of more than 7 spaces per 1,000 square feet,\u201d Silver said in a prepared statement.\u201cAs anticipated by the brokers and owners, the asset received a lot of attention and ultimately went into contract at more than $200 per square foot and closed in just over 3 weeks,\u201d he added.<\/p>\n

\u201cThe commercial center provided the new owners with the ideal opportunity to expand their medical related business and draw patients from the densely populated surrounding area,\u201d added Mandel.<\/p>\n

Image courtesy of <\/i>Yardi<\/i> Matrix <\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

The new owner plans to optimize the office asset for medical use.<\/p>\n","protected":false},"author":1002,"featured_media":1004156829,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,1492,21742,21747],"tags":[],"class_list":["post-1004156825","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-miami","category-latest","category-office"],"acf":[],"yoast_head":"\nMiami Commercial Campus Trades for $12M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/miami-commercial-campus-trades-for-12m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Miami Commercial Campus Trades for $12M\" \/>\n<meta property=\"og:description\" content=\"The new owner plans to optimize the office asset for medical use.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/miami-commercial-campus-trades-for-12m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-10-25T13:41:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T05:35:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Bent-Tree-Commercial-Center-13926-SW-47th-St.-Miami-Fla..png\" \/>\n\t<meta property=\"og:image:width\" content=\"966\" \/>\n\t<meta property=\"og:image:height\" content=\"775\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Carmen Horghidan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/miami-commercial-campus-trades-for-12m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/miami-commercial-campus-trades-for-12m\/\",\"name\":\"Miami Commercial Campus Trades for $12M - 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