Florida

CORAL GABLES, FLA. — Deutsche Asset & Wealth Management’s Alternatives and Real Assets division has purchased a Class A office complex in Coral Gables, a city in Miami’s metro area. The property, known as The Alhambra, spans 326,415 square feet and comprises two towers. The buildings, known as Alhambra Plaza and Alhambra West, are 14 stories and seven stories, respectively. Deutsche purchased the complex for an undisclosed amount on behalf of a foreign institutional investor.

FORT LAUDERDALE, FLA. — Morning Calm Management and joint venture partner Blue Vista Capital Management have purchased Lakeshore Business Center, a four-building, 234,954-square-foot office complex in Fort Lauderdale, for $18.1 million. The office campus is located at 5100 and 5200 N.W. 33rd Ave. and 3201 and 3125 Commercial Blvd. in Fort Lauderdale’s Commercial Boulevard submarket. The joint venture purchased the development from NTS. The campus was 53 percent leased at the time of sale to tenants such as Embry-Riddle Aeronautical University, ECI Telecom and Evolis.

DORAL, FLA. — Marcus & Millichap has arranged the $13 million sale of Doral Commons, a four-story, 59,727-square-foot office building located at 8550 N.W. 33rd St. in Doral, a suburb of Miami. Built in 1999, the office building was 98 percent leased at the time of sale. Douglas Mandel and Benjamin Silver of Marcus & Millichap’s Fort Lauderdale office represented the seller, a private investor from Boston, and the buyer, a limited liability company from Aventura, Fla., in the transaction.

DEERFIELD BEACH, FLA. — Fairlead Capital Partners and equity partner Bridge Investment Group Partners have acquired a four-story, 172,357-square-foot office building located at 800 Fairway Drive in Deerfield Beach, a city in Broward County. Fairlead purchased the asset for an undisclosed price through its second investment fund, Mandalay-FCRE SV II. Built in 1987, the office building was 78 percent leased at the time of sale. The property features a fitness center, café, secured parking deck and walking paths. Fairlead plans to upgrade the property’s building systems, improve tenant amenities and renovate common areas and restrooms. In addition to the office building and parking deck, the acquisition includes a two-acre parcel of land adjacent to the building that Fairlead will use to expand parking for tenants. CBRE represented the seller, American General Life Insurance Co., in the transaction. The buyers have retained Stiles Realty for on-site property management and engineering services. Travis Herring, Deanna Lobinsky and Katherine Ridgeway of Cushman & Wakefield’s South Florida office will market 800 Fairway Drive to prospective tenants.