Steelbridge, Apollo score big office buy in Aventura
A Steelbridge Capital joint venture has purchased the 106,500-square-foot Concorde Centre II office building in Aventura.
A Steelbridge Capital joint venture has purchased the 106,500-square-foot Concorde Centre II office building in Aventura.
Miami-based Steelbridge’s joint venture partner is a fund that Apollo Global Real Estate Management advises.
The Class B building, at 2999 N.E 191st St., will be renamed Aventura View. It is located next to Aventura Mall and is currently 83 percent occupied with a tenant pool that includes JGB Bank and law firm Behar, Gutt & Glazer, P.A., according to an announcement released Wednesday.
“Steelbridge Capital will implement a strategic capital improvement plan, expand property marketing and amenities, and introduce institutional quality property management and leasing,” according to the release.
Aventura, like Coral Gables and Coconut Grove, is a strong, stable suburban market because of high supply constraints and steady demand from medical, financial and legal tenants. The off-market deal, which according to one source who asked not to be named traded for more than $20 million, was very attractive because buildings of that quality and size are rarely sold in Aventura.