Coral Gables led the region in office transactions during the final months of 2015, with three major trades bringing an eye-catching $236 million. The city long known for its Mediterranean architecture and bridal shops has hit the investor radar screen, luring financial giants from around the globe.
“You’ve got institutional investors coming in and buying Class A and B office buildings, looking to invest in them to reposition them,” said Diana Parker, senior vice president at CBRE Inc. in Miami. “Within the last 14 months, 800,000 square feet has traded.”
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