JLL's Capital Markets group announced on October 8, 2024, that it arranged the $443 million sale of 701 Brickell, a trophy Class AA office building in Miami's financial district. This transaction, structured as an all-cash deal for the seller, Nuveen Real Estate, represents the second-largest office sale in Florida history.
The 685,279-square-foot property was highly sought after by institutional groups and ultra-high net worth investors. JLL represented Nuveen Real Estate and procured the buyer, Morning Calm Management and its partner, showcasing its extensive network and market reach.
701 Brickell has maintained high occupancy and consistent rent growth, benefiting from a flight-to-quality trend in Miami's office market. JLL's role in this landmark sale underscores its capabilities in handling significant real estate transactions and its deep understanding of market dynamics.
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