Aquila Teams With Philly's AMC Delancey in Second South Florida Buy

MIAMI-Aquila Property Co. Inc. of Coral Springs, FL, and AMC Delancey Group Inc. of Philadelphia have formed a joint venture to purchase Lakes Plaza for $4 million or $88.88 per sf from Songy Partners Ltd. of Atlanta.

Lakes Plaza, a two-story, 45,000-sf office building, is the two companies’ second joint-venture acquisition in Miami Lakes in the last 10 months. The 15-year-old, 55%-occupied Lakes plaza is located at 8181 Miami Lakes Drive in Miami Lakes.

Tenants include World Savings Bank and Nenezian & Associates. Aquila Property Co. will manage the property, and Abood Wood Fay will lease it. Donna Abood of Abood Wood Fay Real Estate Group was the only broker involved in the most recent deal. The buyers received a first mortgage from Mellon United Bank.