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244,176-SF Dadeland Towers North Trades for $41M

MIAMI-Cabot Investment Properties sells the three-building property in the growing area of Downtown Dadeland/Kendall.

By Natalie Keith | Updated on February 21, 2008

MIAMI-Boston-based Cabot Investment Properties has sold the three-building, 244,176-sf Dadeland Towers North at 9300 S. Dadeland Blvd. The deal carried a $41.15-million price tag.

CB Richard Ellis Institutional Group vice chairman Christian Lee, CBRE/Melody South Florida office vice chairman Charles Foschini and CBRE/Melody South Florida office vice president Christopher Apone represented the seller. The buyer was not named specifically, but Foschini tells GlobeSt.com it was an institutional buyer with a local partner. “Cabot had owned the property for a long time and felt it was the time to sell,” Foshini says.

Foshini adds that the buyer acquired the property as a value-add opportunity. “A new buyer with a new source of capital can rehab the property and drive rents higher,” he says.

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