In a $105.3-million deal, commercial real estate firm Holliday Fenoglio Fowler L.P. (HFF) has successfully marketed the Aventura Corporate Center, an upscale office park located in Aventura, Florida, on behalf of the seller, Groupe Pacific.
Renaissance Properties bought the 252,244-square-foot compound zoned as class A office space. Consisting of three buildings on Biscayne Boulevard and parking garages, the package comes with tangible development potential. Currently including a café, bank with drive-through services and major industrial, medical and financial firm tenants, the site is central to a large, thriving business area in Miami.
A four-member investment sales team for HFF handled the transaction, led by executive managing director Manny de Zárraga, director Ike Ojala, senior managing director Hermen Rodriguez and associate director Jorge Portela.
“Aventura Corporate Center represents the largest concentration of office product in Aventura, and was a truly generational opportunity for the new owner to acquire a core office park with significant additional development upside in one of Miami’s most coveted areas,” de Zárraga said.
HFF maintains 22 offices throughout the U.S. It provides capital market transactions to the commercial real estate sector with services including debt and equity placement, investment sales, advisory and loan services.
Bob Dockerty of Dockerty Romer & Co. represented the buyer, Renaissance Properties.