Lend Lease U.S. Office Trust of Sydney and real estate syndicator KanAm Group of Munich paid Shorenstein Co. of San Francisco $270 million or $234.78 per sf, the highest price ever paid for an office building in Florida, according to GlobeSt.com research.
The Australian and German partners each paid $134.75 million to acquire a 50% ownership interest in the 18-year-old, 95%-leased, 1.15-million-sf landmark structure at 200 S. Biscayne Blvd., one block from Interstate 95 and immediately adjacent to the Bayfront Park Metro rail system.
The transaction has triggered a rush of for-sale properties along Biscayne Boulevard, the city's dominant thoroughfare, and on Brickell Avenue, Miami's financial district.
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