An affiliate of Arkadia Property Group has acquired the Miami-Dade County Courthouse East building in downtown Miami for $22 million. Built in 1924 at 22 N.W. 1st Street, the 56,205 sqf building traded for just under $392 per sqf. The seller, a company tied to the founder and executives of Bijoux Terner, bought the building in 1987 for $2.6 million. The facility is currently fully leased to the county, which has its county recorder’s office and parking violations bureau there. The county recently signed a five-year lease with three 5-year extension options.
