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Blackstone Acquires MiamiCentral Office Buildings For $230 Million To Build Downtown Miami Technology Hub

Blackstone Acquires MiamiCentral Office Buildings For $230 Million To Build Downtown Miami Technology Hub

March 23, 2021

The New York City-based global investment firm Blackstone has acquired the 2 and 3 MiamiCentral office buildings from Shorenstein Properties for $230 million. The office complex, which was developed in 2017 and 2018, spans 317,939 square feet, breaking the transaction down to $723.41 per square foot. The office buildings are located at 161 NW 6th St. and 700 NW 1st Ave.; additionally, they are connected to MiamiCentral Station, which offers the Brightline train service to Fort Lauderdale and West Palm Beach. Shorenstein Properties initially acquired the properties for $170.5 million in May 2019.

Blackstone leased 41,000 square feet at 2 MiamiCentral in January 2021 for Blackstone’s in-house technology team BXTI before committing to buying the buildings. Blackstone plans to build a technology hub in Downtown Miami and will use the new acquisitions as part of its initiative. The firm plans to hire over 200 technology employees in Miami.

Other tenants at 2 & 3 Miami Central include Ernst & Young, Regus, Moss & Associates, Atlantic Pacific Corporation, Publix, Brightline, CONCACAF, MTV, Einstein Bros. Bagels and Florida East Coast Industries.

In Acquisitions, Closed, Commercial, Downtown, Invest, Investment News, Mixed Use, News, New Construction, News & Features, Office Space, Traded Tags Office, Office Space, Class A Office Space, Acquisitions, News, News & Features, Closed, Traded, Invest, Investment News, MiamiCentral, 2 MiamiCentral, 3 MiamiCentral, Downtown, Downtown Miami, Blackstone Group, Blackstone, Shorenstein Properties, Commercial, March 2021, Mixed Use, New Construction
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