Morning Calm Management Acquires Office Asset At 701 Brickell Avenue From Nuveen For $443M

The asset involved in this transaction is an office property located at 701 Brickell Avenue, Miami. The sale price for the property was $443,000,000, with a total square footage of 685,000, resulting in a price per square foot of $646.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $443,000,000
• Square Footage: 685,000
• Price per Square Foot: $646
• Buyer: Morning Calm Management
• Seller: Nuveen
• Seller's Representatives: Manny de Zarraga, Matthew McCormack, Mike McDonald, Hermen Rodriguez, Ike Ojala, Blake Koletic, Michael Roukis, Max Lescano, Hunter Smith - JLL
• Date of Transaction: 10/08/2024

The transaction included prominent individuals representing the seller: Mike Sales and Charles Russo of Nuveen were involved, while the brokerage firm JLL managed the sale, contributing various representatives to facilitate the deal.