TA Realty sells Waterford at Blue Lagoon building to New York firm for $11M

5835 Blue Lagoon Drive

TA Realty just sold an office building at the Waterford at Blue Lagoon office park in Miami for $10.55 million, property records show.

The buyer is Blue Lagoon Investments LLC, an Islip, New York-based entity controlled by Doug Davis.

The four-story, 57,565-square-foot office building at 5835 Blue Lagoon Drive traded for about $180 per square foot. Records show the Boston-based asset manager sold the property at a loss: it paid $11 million for the building in 2011.

The building was built in 1988 and is 71.5 percent leased, according to a press release. Features include a two-story lobby and a private helipad. Marcus & Millichap’s Douglas Mandel and Benjamin Silver represented the seller.

Some notable tenants at the Waterford at Blue Lagoon office campus include Club Med, Discovery Channel Latin America, Johnson & Johnson, Loreal Retail Americas, Oracle and Regus.

TA Realty has been active on the selling side in South Florida. It recently sold a portfolio of office and warehouse space in Miami-Dade for $60 million. Last year, the firm also sold the Centurion Tower in West Palm Beach for $26 million, and the Northpoint Corporate Center, also in West Palm, for $15 million.

from The Real Deal Miami https://therealdeal.com/miami/2017/08/23/ta-realty-sells-waterford-at-blue-lagoon-building-to-new-york-firm-for-11m/
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