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Aquila sells Florida corporate center for $14 million

Center fronts on Palmetto Expressway

By Inman News, Wednesday, April 12, 2006.

Inman News®

Aquila Property Company has sold the Miami Lakes Corporate Center in Miami Lakes, Fla., for nearly $14 million, the company said today.

 

The center is a three-story, 75,000-square-foot office building in Miami Lakes with frontage on the Palmetto Expressway. Tenants include Pavarini Construction, New Century Mortgage, and TransWorld. The building also has a Target office.

 

Miami Lakes Corporate Center is one of the few buildings in Miami with a covered, secure garage, the company said.

 

The building is now 99 percent occupied, compared to an 80 percent occupancy rate when Aquila first purchased the building. The center's $13.95 million sales price represented a 66 percent increase over the initial purchase price that Aquila paid when it purchased the property about 4 years ago.

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