Lennar Acquires Miami Office Building At 5505 Blue Lagoon Drive For $68M

The office property located at 5505 Blue Lagoon Drive in Miami has been sold in a transaction totaling $68,000,000. The property spans across 213,182 square feet, resulting in a price per square foot of $319. The sale was completed between the buyer, Lennar, and the seller, Franklin Street Properties.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $68,000,000
• Square Footage: 213,182
• Price per Square Foot: $319
• Address: 5505 Blue Lagoon Drive, Miami

The deal was facilitated by a team of brokers from CBRE, including Christian Lee, Sean Kelly, Marcos Minaya, Andrew Chilgren, Amy Julian, Tom Rappa, and Gordon Messinger. They represented both the buyer, Lennar, and the seller, Franklin Street Properties, in this transaction.