May
12
Groupe Pacific Sells Miami Office Park in Coveted Area
ByRenaissance Properties shelled out $105 million for the three-building, Class A suburban office asset.
Aventura Corporate Center I, Aventura, Fla.
Miami—Aventura Corporate Center, a Class A, 252,200-square-foot office park in Aventura, Fla., has changed hands. With the assistance of commercial real estate and capital markets services provider HFF, Groupe Pacific sold the three-building suburban Miami asset to Renaissance Properties in an approximately $105.3 million transaction.
Renaissance got a premier property and Groupe Pacific walked away with far more than it paid for Aventura Corporate Center in 2002, when it picked up the office campus—then consisting of only two structures—for just $20.5 million, according to Miami-Dade County real estate records…
