Franklin Street brokered the sale of a 35,720-square-foot office building situated at 12905 SW 42nd Street in Miami. The two-story building was acquired from Adrian Family Partnership by Adios 2, LLC for $6.7 million.
Scott Tye, investment associate, and Robert Granda, director of retail investment sales, represented both parties in the transaction. Franklin Street has been appointed by Adios 2, LLC as the exclusive leasing agent and property manager for the building.
The building contains 42 individual office suites and is currently named the Office Suites 2 of Bird Road. The property is located in the heart of Miami’s Kendall neighborhood near the Kendall Regional Medical Center. Due to the area’s strong demographics, the listing brought several potential buyers to the negotiating table.
Franklin Street was chosen to list and market the property because of its close relationships with private investors. The buyer cited Franklin Street’s collaborative, bundled-services platform as a big reason for having interest in the property.
“Franklin Street’s ability to offer a multitude of services—from sourcing capital to providing insurance to managing the property—provided a one-stop-shop for our client,” said Tye.
Franklin Street’s Tom Farmer, director of agency leasing, will handle leasing for the building and Lisa Jesmer, senior vice president of client investor accounts, will oversee management.