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Miami Office Building Trades Hands for $30M
JB Waterford, an affiliate of Coral Gables-based Patton Real Estate Group, has acquired Waterford Centre at Blue Lagoon, a 91,431-square-foot office building in Miami’s Waterford Business District Park. The sales price was $30.4 million.
Located at 6205 Blue Lagoon Dr., Waterford Centre at Blue Lagoon is a six-story, institutional-grade office building developed in 1999 on a four-acre site in Miami’s Waterford Business District, a 250-acre master-planned, mixed-use park. The campus consists of 22 office buildings totaling more than 3.3 million square feet, as well as four hotels, restaurants, banking facilities, a day care center and a U.S. Post Office branch.
The seller, Ivy Realty, acquired the property in 2014 for $21.9 million. Miguel Alcivar, Dominic Montazemi, Scott O’Donnell and Mike Davis of Cushman & Wakefield, along with Stuart Kapp of Kapp Morrison LLP, represented Ivy Realty in the transaction.
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