Terranova Corporation: Torose Equities, LNDMRK, Terranova Acquire 220,000 SF Office Building in Metro Miami

CORAL GABLES, FLA. - A joint venture between Torose Equities, LNDMRK Development and Terranova Corp. has acquired 255 Alhambra, a 220,000-square-foot office building located in downtown Coral Gables. Situated on 1.3 acres on Alhambra Circle, the property features floor-to-ceiling windows and a newly renovated lobby. An affiliate of Deutsche Bank/RREEF sold the building. The sales price was not disclosed, but South Florida Business Journal reported that the property traded for more than $50 million. The partnership plans to execute a business plan including leasing up the existing vacancies and upgrading amenities at the property. 255 Alhambra was built in 1974 and renovated in 1993, according to LoopNet Inc.The post Torose Equities, LNDMRK, Terranova Acquire 220,000 SF Office Building in Metro Miami appeared first on REBusinessOnline.