SBS Sells Miami Building
April 7, 2006 at 6:09 AM (PT)
SOUTH FLORIDA's biggest rental-to-office-condominium conversion yet is coming, and it involves a radio company's headquarters.
SPANISH BROADCASTING SYSTEM's 21 story building in MIAMI's COCONUT GROVE has been sold by co-owned IRRADIO INVESTMENTS to KEY REAL ESTATE DEVELOPMENT for over $100 million, according to the MIAMI HERALD, with the radio company retaining the use of its four floors plus the name "SBS TOWER."
The deal is set to close in MAY and would be the biggest such conversion deal yet in the MIAMI market.