Princeton International Properties Corp. has purchased a 223,000-square-foot office building located at 355 Alhambra Circle in Coral Gables for approximately $90 million. This Class-A property marks Princeton International Properties Corp.'s first acquisition in South Florida. The office building will undergo extensive renovation and offers an attractive alternative for tenants who may be priced out of more expensive areas in Miami.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $90,000,000
• Address: 355 Alhambra Circle, Coral Gables
• Market: Coral Gables
• SF: 223,000
• PPSF: $404

The buyer, Princeton International Properties Corp., represented by David Tawfik, acquired the office building from the seller, PGIM Real Estate, represented by Eric Adler. The transaction was facilitated by a team of brokers from Cushman & Wakefield, including Mike Davis, Dominic Montazemi, Miguel Alcivar, Rick Brugge, Rick Colon, Ryan Holtzman, Brian Gale, Jordan Spitzberg, Chloe Strada, and Ryan Jenkins.