Grove 2000 Bldg. Sells for $4.9M in Miami

Grove 2000 Bldg. Sells for $4.9M in Miami
Investors Purchase Office Bldg. in Sale-Leaseback
By Donna Stokes
April 1, 2010 | CoStar.com
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Private investors purchased 2000 S. Dixie Highway in Miami from SunGard for $4.9 million, or approximately $90 per square foot, in a sale-leaseback transaction.

The 54,000-square-foot, two-story office building was constructed in 1972 and sits on two acres. It is known as the Grove 2000.

The new owners intend to use this purchase as an investment opportunity. At the time of the sale, the building was approximately 65 percent occupied. SunGard, a software and technology services company, will remain a tenant in the building occupying 35 percent of the property.

John K. Crotty and David C. Metalonis, senior vice-presidents and partners at Colliers Abood Wood-Fay, represented the seller. Scott Sime of Holly Real Estate represented the buyer.

Please refer to CoStar COMPS #1894731 for more information regarding this transaction.

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