South Florida Business Journal: Miami-Dade office complex bought for $11MDecember 19, 2017
An office complex in the Westchester area of Miami-Dade County was bought for $11 million, or $182 a square foot, by affiliates of IMC Property Management.
AdrianBuilders at Coral Way, a Miami-based company led by Alvaro Adrian, sold the four office buildings at 2760 S.W. 97th Ave. to MYA Properties, with a 72 percent interest, and Coral Way 24 LLC, with a 28 percent interest. The companies are managed by Yoram Izhak and Alan Lipton, respectively, both executives of North Miami-based IMC.
The company is an active purchaser of commercial properties across Florida.
AdrianBuilders developed the 60,278-square-foot office complex on 4.5 acres in 2001.
IMC Director of Acquisitions Carlos Segrera said the property has 54,000 square feet of leasable space and is 85 percent occupied.
“We have already rented a couple of units and expect it to reach 100 percent [occupancy] very soon,” he said. “We did the deal very fast with a 15-day closing. It is a core property for us in an excellent location.”
Tenants include Labcorp and Florida Pace Center.