Canada-based investor Castlerock, Inc. purchased the Office Depot at 3600 Le Jeune Rd. in Miami, FL from a New York-based REIT, One Liberty Properties, Inc., for $6.59 million, or about $265 per square foot.
The 24,894-square-foot, freestanding retail building was built in 1993 in the Miami Airport submarket. Office Depot occupies the entire property on a 10-year, triple-net lease.
Marcus & Millichap's Scott Sandelin represented both parties in the sale.
Please see CoStar COMPS #2641522 for more information on this transaction.