Midtown Capital Partners Acquires Pembroke Pines Property At 880 SW 145th Ave For $42M

The property asset involved in this transaction is an office building located at 880 Southwest 145th Avenue, Pembroke Pines, Florida. The transaction occurred at a price of $42,000,000 for a total square footage of 144,000. This sale highlights the market dynamics within Pembroke Pines.

Summary of transation details:

• Property Type: Office Building
• Transaction Amount: $42,000,000
• Square Footage: 144,000
• Seller: Duke Realty
• Buyer: Midtown Capital Partners
• Seller's Representatives: Dominic Montazemi (Cushman & Wakefield), Gregory (Greg) Miller (Cushman & Wakefield)
• Financing: $22.7 million loan from Employers Reassurance Corporation
• Notable Tenants: Global Medical Management, Elizabeth Arden, CES Consultants Inc., Boxy Charm, Kronos Incorporated, Corestaff, Devry Education Group, Evolution Lighting LLC

Midtown Capital Partners is led by Alejandro Velez and Alexander Saieh. Cushman & Wakefield played a significant role in the transaction, with multiple representatives involved, including Jason Hochman, who assisted with the loan acquisition. This transaction follows Midtown Capital Partners' recent acquisition of a segment of the former Motorola Solutions campus for $56.6 million. Duke Realty has shown considerable activity in the South Florida market over recent months.