REBusinessOnline

Madison Marquette Acquires Two Office Buildings in Miami’s Coconut Grove for $47.7M

Bayview Executive Plaza spans 57,155 square feet and is located at at 3225 Aviation Ave. in Miami. (Photo courtesy of LoopNet Inc.)

MIAMI — Madison Marquette, a real estate investor, developer and operator, has acquired two office buildings in Miami’s Coconut Grove neighborhood for $47.7 million. The properties include the 80,380-square-foot Continental Plaza, located at 3250 Mary St., and the 57,155-square-foot Bayview Executive Plaza, situated at 3225 Aviation Ave. less than a mile from Continental Plaza. MetLife provided a $17.6 million acquisition loan for Bayview Executive Plaza and a $25 million acquisition loan for Continental Plaza. Allegra Holding, which bought the assets in 2015 for $42 million, sold the buildings to Madison Marquette. Roberto Susi and Jose Sasson of Axiom Capital Advisors represented the buyer in the transaction.

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