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Trophy Office Goes to Dallas Buyer
September 18, 2015
An entity affiliated with the Dallas-based Gaedeke Group has recently announced the acquisition of a landmark office tower on the southern end of Brickell Avenue in Miami’s Financial District. Gaedeke Holdings XII closed on the Espirito Santo Plaza, a 36-story tower totaling 266,692 rentable square feet of office space. Exan Capital represented the seller, whose identity was not disclosed in the announcement released by Gaedeke, but Miami-Dade property records show that the building was previously owned by Estoril Inc.
Designed by Kohn Pederson Fox Associates, Espirito Santo Plaza was developed in 2004, along with an 894-space parking structure, occupying a full block on Brickell Avenue. It is easily accessible due to a Metromover station located directly across the street from the site. The property offers tenants a wide range of amenities such as a landscaped roof deck on the parking garage with a fitness center, swimming pool, two tennis courts, whirlpool, sundeck and garden. The building’s glass curtainwall system is designed to be completely waterproof during a flood or storm surge.
The 203-room Conrad Miami Hotel situated on the same site was not part of the acquisition.
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