Class A Coral Gables Office Tower Trades In $83 Million Deal

355 Alhambra in Coral Gables was acquired by an insurance-backed group for $83.08 million, according to county records.
CPT 355 Alhambra Circle, part of Boston-based AEW Capital Management, sold the 16-story building to PRII 355 Alhambra Circle, an affiliate of Prudential Real Estate Advisors.
The seller was represented by HFF’s Hermen Rodriguez, Jorge Portela and Ike Ojala.
The building totals 492,820 square feet, with 224,241 square feet of leasable square feet plus a parking deck with three spaces per 1,000 square feet of leasable space.
Tenants include Bank of America and Merrill Lynch.
The building was constructed in 2001 on the 1.2-acre site. It last traded in 2008 for $87.3 million.
This is the third major office deal on Alhambra Circle this month. The Alhambra was sold for $118.5 million (also brokered by Rodriguez, Portela and Ojala) and Alhambra International Center traded for $34 million.
 
Source:  SFBJ
 

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