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NY's Colonnade Properties Pays $60 Mil for Trophy Office Asset

CORAL GABLES, FL-In South Florida largest office deal this year, the New York firm is paying Louis Dreyfus Property Group and Apollo Real Estate Advisors, both of New York, $129 per sf for the five-building, 94%-leased, 463,632-sf Douglas Entrance, a landmark structure in the affluent central business district of suburban Coral Gables, FL, nine south of Downtown Miami.

By David R. Corder | Updated on November 08, 2001

CORAL GABLES, FL-In a deal described as the largest office sale brokered this year in Miami-Dade County, Colonnade Properties of New York has acquired the five-building, 463,632-sf, 94%-leased Douglas Entrance office complex for $60 million or $129 per sf.

The sellers were Louis Dreyfus Property Group and Apollo Real Estate Partners Advisors, both of New York.

Cushman & Wakefield of Florida Inc. senior directors Jay M. Caplin and John F. Bell negotiated for the sellers

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