Reign Capital Acquires Eight Office Properties In Miami-Dade From AT&T For $43.63M

The asset involves the sale of eight utility properties located at 460 Northeast 215th Street, 45 Northeast 5th Street, 18560 Northwest 27th Avenue, 2470 Northwest 38th Street, 8428 Northeast 1st Place, 101 Alhambra Circle, 75 Civic Court, and 13 Northwest 6th Street, encompassing a total of 668,068 square feet. These properties span across several markets including Miami Gardens, Miami, Coral Gables, and Homestead. The transaction was completed for a total sale price of $43,630,000, equivalent to $65 per square foot.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $43,630,000
• Square Footage: 668,068
• Address: 460 Northeast 215th Street, 45 Northeast 5th Street, 18560 Northwest 27th Avenue, 2470 Northwest 38th Street, 8428 Northeast 1st Place, 101 Alhambra Circle, 75 Civic Court & 13 Northwest 6th Street
• Buyer: Reign Capital
• Seller: John Stankey - AT&T
• Market: Miami Gardens, Miami, Coral Gables & Homestead

Reign Capital, represented by Reign CO2 Propco LLC, acquired the properties from John Stankey, who is associated with AT&T. This transaction forms part of a national portfolio deal involving multiple utility properties across Miami-Dade County, collectively amounting to over 600,000 square feet.