miami tower

May 25, 2016 Comments Off on Miami Tower Trades for $220M Views: 819 California News, Florida, National News, Southeast

Miami Tower Trades for $220M

LaSalle Investment Management has sold the 631,672-square-foot, Class A, Miami Tower to Sumitomo Corp. of the Americas for $220 million. HFF represented the seller in the transaction.

LaSalle Investment acquired the asset at 100 S.E. 2nd St. in 2010. During its hold, the Chicago-based investor installed a new lighting system as part of an overall renovation. The seller also repositioned and leased the tower to 92% occupancy.

Designed by renowned architect, I.M. Pei, the iconic Miami Tower consists of 37 stories of office space situated above 10 stories of parking, a Metromover station and ground level retail space. Tenants include Carlton Fields, TotalBank, UBS Financial, Genovese Joblove, Ver Ploeg and the GSA.

Read More at HFF

Connect with LaSalle Investments

Connect with Sumitomo Corp. of the Americas

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