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Starting 2021 With a Bang!

Cashflow In Miami
January 31, 2021

777 South Flagler Drive and 201 Lakeview Avenue, West Palm Beach, FL

Starting 2021 with a Bang!!!

Two major sales have occurred in January, 2021 , giving this year one brisk jump start!!

First major office tower will be the purchase by The Related Company Phillips Point office towers in West Palm Beach for $282 million.

AEW Capital Management is selling the 448,914-square-foot office complex. The deal, is the largest office sale in South Florida in more than a year .

Related will pay about $630 per square foot for the buildings at 777 South Flagler Drive and 201 Lakeview Avenue.

Records show AEW paid $246 million for the two towers in 2015. They sit on more than 4 acres overlooking Palm Beach island.

Morgan Stanley, Gunster, and Akerman are among the tenants. Phillips Point is about 90 percent occupied.  

111 N.E. 32nd St , Midtown Miami, FL

Midtown Miami sells for $154,350,000!!

Miami Midtown Owner LLC, an affiliate of Chicago-based Magellan Development Group, sold the 400 apartments at 111 N.E. 32nd St. to SE Midtown 5 LLC, an affiliate of Great Neck, New York-based Sterling American Property.

The price equated to $385,875 per unit.

Magellan developed Midtown Five on the 1.6-acre site in 2016. It rises 24 stories in 701,056 square feet. Amenities include a pool, wellness center, dog run, spa, game room, business center, yoga lawn, and meditation garden.

This is only January in South Florida , ladies and gentlemen!!:)


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