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Coral Gables B of A-Anchored Tower Sells for $90M
PGIM Real Estate sold the 222,757-square-foot office tower at 355 Alhambra Circle to Princeton International Properties Corp for $90 million. A Cushman & Wakefield team led by Mike Davis represented the seller in the deal. The deal does not affect the Bank of America lease.
The price equated to $404 per square foot.
The South Florida Business Journal reports the 16-story building last traded for $83.08 million in 2015. The building was developed on the 1.19-acre lot in 2001. It includes a seven-story parking garage. Princeton International said it plans to renovate the building. Space is 355 Alhambra is available for $56 to $57 per square foot.
- ◦Sale/Acquisition
