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Greenmont Group, Davis Pay $53M for 555 Washington Building in Miami Beach
JLL has closed the $52.5-million sale of 555 Washington, a Class A mixed-use asset totaling 65,746 square feet of office and retail space in Miami Beach, FL.
A JLL team of Hermen Rodriguez, Ike Ojala and Matthew McCormack represented the seller, a joint venture between East End and BentallGreenOak, and procured the buyer, a partnership between Greenmont Group and Davis.
The 2015-renovated 555 Washington has 44,516 square feet of creative office space with open floor plans and exposed ceilings alongside 21,230 square feet of ground floor retail space.
Overall, the property is 82% leased to 11 tenants, including CVS Pharmacy, Wells Fargo and Warner Music Group. 555 Washington also includes a six-story, 243-space parking garage that provides revenue to the property.
555 Washington at the corner of Washington Avenue and 5th Street, several blocks from South Beach. It is positioned near the MacArthur Causeway for access to the greater Miami metro area.
- ◦Sale/Acquisition
