Related Group Sells Previous Riverfront HQ In Miami For $24 Million

After remaining on the market for more than a year, The Related Group’s recent headquarters in Downtown Miami sold for $24 million this week.

The developer, led by father Jorge and son J.P. Pérez, put the five-story riverfront building for sale in late 2019. The company later relocated to its new base at 2850 Tigertail in Coconut Grove, which ended construction in March 2021.

The buyer, the Mexican company Zentrix Industries Ltd., scored a $12 million loan from Apollo Bank.

Settled near the Miami River at 315 South Biscayne Boulevard, the 35,000 Sq Ft. building holds two floors of office space, one floor of restaurant space earlier occupied by Wolfgang’s Steakhouse, as well as two floors of parking space as it was built in 2006.

The Related Group is Miami’s leading condo developer, having developed $40 billion worth of inventory since its inception in 1979.

CBRE’s David Wigoda and Sean Kelly represented the seller, the office and restaurant spaces are empty and looking for tenants, according to brokerage CBRE.

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