Aventura Opportunity Owner LLC Buys Office Building In Miami For $140M

The Aventura Corporate Center located at 20803 Biscayne Blvd in Miami, FL, 33180, was sold by Renaissance Properties to Aventura Opportunity Owner LLC for a price of $140,000,000.00. The office asset comprises three Class A office buildings and garages, totaling 252,244 square feet. The property, covering 8.7 acres, includes land earmarked for future development into a mixed-use project featuring office spaces, restaurants, and other amenities.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $140,000,000.00
• Market: Miami
• Buyer: Aventura Opportunity Owner LLC
• Seller: Renaissance Properties
• Buyer's Representative: Liza Hernandez - PMG Residential
• Seller's Representative: Maria Gomez - Florida Realty of Miami

The buyer, Aventura Opportunity Owner LLC, a Delaware entity with a New York address, intends to expand the current office complex by constructing additional facilities. The design work for the expansion is being undertaken by Zyscovich Architects. Previously, Renaissance Aventura LLC, associated with investors Kenneth and Robert Fishel, had acquired the office complex through a 1031 exchange from a Manhattan asset for $105.3 million. Notable tenants within the Aventura Corporate Center include prominent entities such as Morgan Stanley, South Broward Hospital, Regus, Coldwell Banker, Keller Williams, and the Miami Realtors Association, with the entire property fully leased.