CBRE Global Investors has purchased the Airport Corporate Center in Miami for $132m. Hines sold the 45-acre, 11 building property located next to Miami Airport on Corporate Center Drive.
At the time of the sale the property was 79% leased and included over 1,000,000 square feet of flex and office space. Built in the 1980’s and 1990’s the property sits on 5.5 acres and includes both mid-rise and single story buildings with garage and surface parking.
The new owners plan to target upgrades on both the exterior and interior of the properties. In addition they will add a conference center and a fitness center.
