Eve Trkla, chief operating officer of the Beverly, MA-based company, tells GlobeSt.com that Brookwood achieved its business plan during its three-year stint as owner of the 15-story office building. "We got in at the right time, we were able to enjoy the increase in value and we wanted to take advantage of the current market," she says, adding that the property was highly sought after by investors.

Brookwood was able to sell the property, which also includes a 273-car parking garage, for $13.5 million more than it paid for the building in December 2003. The company had purchased the building from an affiliate of Principal Real Estate Investors for $16.7 million. Trkla attributes the jump in value to a slight increase in occupancy from 88% to 90% and growth in rental rates. Company officials say they were able to capitalize on a strong market that had no new office buildings under construction. The property, which was constructed in 1989 and renovated in 1993 and 1997, is situated on just over an acre along South Dixie Highway.

Chris Lee of the Miami office of CB Richard Ellis represented Brookwood. 9350 Financial Centre, which was sold by Brookwood affiliate Brookwood Kendall Investors LLC, is Brookwood's ninth disposition in South Florida since December 2004. The company's other recent South Florida sales include New World Tower, a 270,000-sf office and telecommunication property that sold for $60.4 million; and Park Centre, a 132,843-sf mixed-use property that sold for $16.42 million.