Valoro Capital has acquired a 62,748-square-foot office building located at 1680 Meridian Ave. for $22.7 million from Market Street Real Estate Partners. The buyer received a $15 million mortgage from Banesco USA.
According to the South Florida Business Journal, this property was last sold in 2015 for $23 million and has recently undergone renovations including new hurricane-resistant windows and a restored lobby.
Built in 1957 on an 11,250-square-foot lot just north of Lincoln Road, this six-story building is currently occupied by tenants such as Harry’s Pizzeria (restaurant space), Keller Williams, and Groot Hospitality. There is currently approximately 11,549 square feet of available space listed online at a rate of $65 per square foot.
The deal was brokered by Douglas K. Mandel, Zach Levine and Josh Gilbert of Marcus & Millichap along with Ericka Witkowski of Witko Group.
