Doral Commons sells for $13.1m to Bonbon Realty

Bonbon Realty has purchased the Doral Commons office building for $13.1 million. The 59,727 square-foot building located at 8550 N.W. 33rd St. in Doral was 98 percent leased at the time the deal closed. Built on a 2.7-acre lot in 1999, the building traded for just over $219 per square foot. The asset was sold by Realty Associates Fund IX, an affiliate of Boston-based TA Associates Realty, which paid $6.25 million for it in 2011. Marcus & Millichap’s Douglas K. Mandel and Benjamin H. Silver represented both the buyers and the sellers

“Doral has risen substantially on the interest scale across all sectors, driving transactions and pricing upward,” Douglas K. Mandel of Marcus & Millichap’s said. “Demand for office space will continue to grow as community-centric and residential projects continue to transform Doral into one of the most important markets in the country.”