Non-Profit Sells Biscayne Boulevard Property For $317 PSF

Mar 10, 2016 No Comments by

center for independent living biscayne boulevardA building owned by The Center for Independent Living of South Florida, Inc. (CILSF), a non-profit organization run by persons with disabilities for persons with disabilities, has found a new owner for $4.6 million, equating to $317 per square foot.

Janet Crucet and Kristine Flook of Urbanize Properties brokered the sale of the 1960’s-built facility.

CIL of MIA LLC sold the 14,500-square-foot property, located at 6660 Biscayne Blvd. in Miami, to AKORP Development, an entity managed by Alex Karakhanian, who owns ten properties in the area – two that surround the subject property.

 

“Following a discussion with the Center for Independent Living of South Florida regarding some options on alternatives with unused space, selling became the more palpable option, especially considering we had a buyer with an offer in hand,” explained Crucet.  “The deal is a great example of being at the right place at the right time.”

 

Karakhanian added, “This property presented a perfect opportunity to engage in a historically conscious adaptive re-use of the existing structure to better suit the current needs of this growing neighborhood.”

 

————————-

Get the latest industry news and information from CRE-sources delivered right to your email inbox! And we promise…no more than one email each morning. Just follow the instructions below.

Enter your email address:

 

Go Ahead...Share!
  • email
  • Facebook
  • LinkedIn
  • Twitter
  • Add to favorites
  • Print
Industry News, Miami-Dade County Office, Miami-Dade County Retail, NA, Office, Retail
No Responses to “Non-Profit Sells Biscayne Boulevard Property For $317 PSF”

Leave a Reply