{"id":1004327885,"date":"2019-05-30T08:35:26","date_gmt":"2019-05-30T16:35:26","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004327885"},"modified":"2019-05-30T08:35:26","modified_gmt":"2019-05-30T16:35:26","slug":"miami-office-building-trades-for-14m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/miami-office-building-trades-for-14m\/","title":{"rendered":"Miami Office Building Trades for $14M"},"content":{"rendered":"<div id=\"attachment_1004327888\" style=\"width: 235px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004327888\" data-attachment-id=\"1004327888\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/miami-office-building-trades-for-14m\/highland-park-center\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Highland-Park-Center.jpg\" data-orig-size=\"2448,3264\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;2.4&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;iPhone 5&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1364381201&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;4.13&quot;,&quot;iso&quot;:&quot;50&quot;,&quot;shutter_speed&quot;:&quot;0.00025799793601651&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Highland Park Center\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Highland Park Center&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Highland-Park-Center.jpg?w=768\" class=\"size-medium wp-image-1004327888\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Highland-Park-Center.jpg\" alt=\"\" width=\"225\" height=\"300\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Highland-Park-Center.jpg 2448w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Highland-Park-Center.jpg?resize=225,300 225w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Highland-Park-Center.jpg?resize=768,1024 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Highland-Park-Center.jpg?resize=1152,1536 1152w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Highland-Park-Center.jpg?resize=1536,2048 1536w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Highland-Park-Center.jpg?resize=150,200 150w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Highland-Park-Center.jpg?resize=300,400 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Highland-Park-Center.jpg?resize=696,928 696w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Highland-Park-Center.jpg?resize=1068,1424 1068w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Highland-Park-Center.jpg?resize=1920,2560 1920w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Highland-Park-Center.jpg?resize=315,420 315w\" sizes=\"auto, (max-width: 225px) 100vw, 225px\" \/><p id=\"caption-attachment-1004327888\" class=\"wp-caption-text\">Highland Park Center. <em>Image courtesy of Key International<\/em><\/p><\/div>\n<p>Key International has disposed of Highland Park Center, a Class A office building in Miami. TopMed Realty, a healthcare real estate private equity firm, acquired the asset for $13.9 million. Institutional Property Advisors, a division of Marcus &amp; Millichap, negotiated on behalf of the seller.<\/p>\n<p>The asset previously changed hands in 2014, when it traded for $7.9 million. According to Key International, the building was vacant at the time of purchase, and now, at the time of sale, the property is 100 percent occupied.<\/p>\n<p>Located at 1011 N.W. Sunnybrook Road, near the Health District, Highland Park Center faces the Dolphin Expressway, the main artery linking Miami International Airport to the Miami Beach. The property is situated across from the Jackson Memorial Hospital, two blocks east from the Miami-Dade Court House and less than 1 mile west from Interstate 95. Constructed in 2011, the 11-story building totals 42,489 square feet of office space and has seven levels of parking. &nbsp;<\/p>\n<p>Senior Managing Director Douglas Mandel and First Vice President of Investments Benjamin Silver of Institutional Property Advisors represented the seller in the deal. In March, Mandel took part in an Orlando-area transaction involving <a href=\"https:\/\/www.commercialsearch.com\/news\/terracap-acquires-orlando-area-office-asset\/\">a 150,000-square-foot office building<\/a> which traded for $13.8 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key International sold the 11-story Class A asset located near the Health District. Institutional Property Advisors negotiated the deal on behalf of the seller.<\/p>\n","protected":false},"author":870,"featured_media":1004327915,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,1492,21742,21747],"tags":[32889,35230,35806,34836],"class_list":["post-1004327885","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-miami","category-latest","category-office","tag-douglas-mandel","tag-institutional-property-advisors","tag-key-international","tag-marcus-millichap"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Miami Office Building Trades for $14M - 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-office-building-trades-for-14m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Miami Office Building Trades for $14M\" \/>\n<meta property=\"og:description\" content=\"Key International sold the 11-story Class A asset located near the Health District. 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