Florida & Gulf Coast + Florida + Office | May 25, 2016

Miami Tower Trades for $220M

LaSalle Investment Management has sold the 631,672-square-foot, Class A, Miami Tower to Sumitomo Corp. of the Americas for $220 million. HFF represented the seller in the transaction.

LaSalle Investment acquired the asset at 100 S.E. 2nd St. in 2010. During its hold, the Chicago-based investor installed a new lighting system as part of an overall renovation. The seller also repositioned and leased the tower to 92% occupancy.

Designed by renowned architect, I.M. Pei, the iconic Miami Tower consists of 37 stories of office space situated above 10 stories of parking, a Metromover station and ground level retail space. Tenants include Carlton Fields, TotalBank, UBS Financial, Genovese Joblove, Ver Ploeg and the GSA.

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About Mark El-Rayes

Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.

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