Office Building In Dadeland Acquired For $33 Million

Nov 22, 2017 No Comments by

CBRE has arranged the sale and acquisition financing of 9350 Financial Centre in Miami.

9350 Financial Centre is a 105,713-square-foot Class A office building with a six-story integrated structured parking garage.

CBRE facilitated the sale on behalf of Delma Properties to Banyan Street Capital, who acquired the property for $33 million.

Additionally, CBRE also arranged 7-year financing with BankUnited on behalf of Banyan. Vice chairman Christian Lee oversaw the transactions alongside senior vice president José Lobón on the sale effort and vice president Amy Julian on the financing. The CBRE South Florida Capital Markets team representing the seller also included financial analysts Marcos Minaya and Andrew Chilgren. Stuart Kapp, a partner with Kapp Morrison LLP, was legal counsel to the seller in the transaction.


“The Property is ideally situated on South Dixie Highway, a major north-south artery, in the heart of the densely populated Dadeland neighborhood,” said Christian Lee, vice chairman, CBRE Capital Markets. “9350 Financial Centre caters to professionals and service providers residing within the immediate area who want to avoid rush hour congestion, but want to maintain the ability to easily access downtown Miami via use of the Metrorail.”

9350 Financial Centre is located within the Dadeland neighborhood, which is the central business district of Kendall. The property is situated on U.S. 1 (South Dixie Highway), one of South Florida’s main arterials, granting tenants and visitors alike exceptional access to virtually all areas of South Florida. Additionally, the Property abuts the Palmetto Expressway on-ramp, another main arterial that connects with the Dolphin Expressway, Interstate-95 and Florida’s Turnpike, all within a 15-minute drive of the property.


“The buyer’s planned renovation of the common areas will be well received by tenants, allowing new ownership to push rates within the tight Downtown Dadeland office micro-market,” commented José Lobón, Senior Vice President, CBRE Capital Markets.


“The loan with BankUnited will provide additional funding for the planned capital improvements, which include a lobby renovation, elevator modernization and common area upgrades,” added Amy Julian, vice president, CBRE Debt & Structured Finance. “These enhancements combined with Banyan’s commitment to the property will undoubtedly strengthen 9350 Financial Centre’s position in the market.”

In addition, CBRE’s Kurtz/Parker team has been assigned the leasing of 9350 Financial Centre, with Diana Parker and Jason Krieger leading the assignment.


“Due to their in-depth knowledge of this submarket’s tenancy, we selected CBRE to spearhead the leasing efforts in connection with our repositioning of 9350 Financial Centre as a ‘high-end boutique’ building with an elevated tenant experience,” said Larry Chapman at Banyan Street Capital.




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