The Cushman & Wakefield South Florida Commercial Team Negotiated the Disposition of the ±33,000-Square-Foot Centennial Express Building on Behalf of Centennial Express, Inc.

Cushman & Wakefieldhas negotiated the sale of the Centennial Express Building, a 33,339-square-foot commercial property in Miami’s Allapattah neighborhood.

The Cushman & Wakefield Capital Markets team ofMiguel AlcivarandDominic Montazemi, in conjunction with Cushman & Wakefield leasing partnersTony JonesandFrank Begrowicz, negotiated the disposition on behalf ofCentennial Express, Inc.New York-basedEdenderry Properties, LLCacquired the asset for $6 million ($180 per square foot). Scott Sime of Sime Realty Corporation represented the buyer.

The Centennial Express Building was developed in 1945 on a ±1.7-acre parcel at1251 NW 36th Street. The concrete block building occupies an entire city block. The property is centrally located along NW 36th Street, a main east-west arterial connecting the trendy neighborhoods surrounding Biscayne Boulevard to Miami International Airport and Doral. This location, just north of theHealth District, enjoys near immediate access to the Airport Expressway (SR 112), which provides convenient access to Interstate 95 in turn. The Centennial Express Building also enjoys exceptional public transit connectivity via theMetrorailandMetrobusstops along NW 36th Street.

The Centennial Express Building was 78 percent occupied at the time of sale. Notable tenants include Palm Medical Center and the Social Security Administration.

“The offering represented a unique opportunity to acquire a covered land play in the emerging urban neighborhood of Allapattah, with near-term upside from repositioning the existing building and future transit-oriented development potential given the property’s proximity to a Metrorail Station one block away. The site’s configuration, scale and favorable underlyingMiami 21zoning are ideally suited for future higher-density, mixed-use development,” said Alcivar.

The South Florida Commercial Team ofScott O’Donnell, Montazemi, Alcivar,Greg Miller andJason Hochmanhas closed more than $630 million in sales and financing over the last 18 months. Please visitwww.southfloridacommercialteam.comfor more information about the team.

About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm with 45,000 employees in more than 70 countries helping occupiers and investors optimize the value of their real estate. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visitwww.cushmanwakefield.comor follow@CushWakeon Twitter.