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JPMorgan Puts For Sale Sign On 1.2M SF Downtown Office Property


A giant Downtown Miami office tower could get new owners. JPMorgan Asset Management has tapped HFF to market Southeast Financial Center, a two-building, 1.2M SF downtown office complex, Commercial Real Estate Direct reports. The project is currently held by JPMorgan's Strategic Property Fund, and is estimated to have a value of more than $400/SF, or nearly $500M. Sales could top $430/SF, given investor demand for gateway office, and that the project is 98% leased. [CRED]