The Security Building was acquired in June 2015. Prior to Turnbridge’s acquisition, the property was comprised of 60 separate condominium units, the majority of which were residential. Turnbridge acquired 55 of the 60 condominium units, which allowed for the condominium regime to be dissolved. Post-acquisition, Turnbridge acquired the remaining five condominium units and subsequently secured a 15-year full-property lease with the industry’s premier shared workspace provider, WeWork.

Miami: The Security Building

Address

117 Northeast 1st Avenue, Miami, FL

Submarket

Downtown Miami

Size

96,575 square feet

Type

Office

Date Acquired

June 2015

Date Sold

Currently owned by Turnbridge