Broward Office Building Fetches $334 PSF

May 12, 2019 No Comments by

An affiliate of New York-based Gramercy Property Trust, RT Miramar II LLC, sold a 134,786-square-foot office building located at 14700 Caribbean Way in Miramar for $45 million, equating to about $334 per square foot.

The property, an operations center for Royal Caribbean Cruises, last sold in 2009 for $26 million, or about $193 per square foot.

The new owner of the office building is 14700 Caribbean Way LLC, led by manager John Laoui in Hallandale Beach. The new owner got a $29.25 million mortgage loan from UBS AG in connection with the property purchase.

The office building was constructed in 2001 on a 10.4-acre site near the Miramar Parkway exit off Interstate 75.


Source:  The Real Deal


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