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November 29, 2017  

CNL Showing Value-Added Fla. Offices

CNL Financial is shopping a suburban Miami office building to value-added investors.The 239,000-square-foot Sawgrass Lake Center, in Sunrise, Fla., could attract bids of about $260/sf, or $62 million. Orlando-based CNL has given the listing to HFF.The occupancy rate is 78%, well below the 91.5% average for the surrounding 4.2 million-sf Sawgrass Park submarket.At the estimated value, the buyer’s initial annual yield would be 5.75%. The...

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