Canadian real estate investment firm Soliman Corp., led by Jeffrey Soliman, has acquired a multi-tenant office building in Hallandale Beach from KEI Properties for $16.5 million. The 11-story, 117,668 square-foot office building is located at 1250 E. Hallandale Beach Blvd. in Hallandale Beach, FL. The buyer, Soliman Corp, an affiliate of 1250 E. Hallandale LP, acquired the property from Murray Family Associates, an affiliate of KEI Properties. The transaction was overseen by Tiktin Real Estate Investment Services (TREIS), a leading commercial real estate investment sales brokerage firm. Adam J. Tiktin, president and broker of TREIS, represented both the Buyer and Seller in this transaction. The closing took place March 31st.
Originally constructed in 1973, the building was 78% leased at the time of sale. Soliman Corp. plans to execute a value add strategy by renovating the lobby, hallways and common areas. The building is situated on over 2.5 acres of land and located just two miles from the Aventura Mall and less than a mile away from Gulfstream Park. KEI Properties originally acquired the property in 1998 for $4.3 million.