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MetLife Takes a Dip Into Blue Lagoon for $42.2M

TIAA-CREF Sold 5 Miami Office Buildings; New Owner to Spend $1.4M in Renovations
By Jeannie P. Knox
September 8, 2005 | 6:14 P.M.

MetLife purchase five buildings at 5757, 5775, 5805, 6161, and 6101 Blue Lagoon Drive in Miami. Teachers Insurance and Annuity Association (TIAA-CREF) sold the properties built between 1982 and 1987. They are situated within the Waterford at Blue Lagoon Office Park and have a total RBA aggregate of 340,000 square feet. According to published sources, MetLife paid $42.2 million, or about $124 per square foot.

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