Doral office buildings snag $63 million as owners pivot strategy following Live Local Act deal

March 26, 2026 - 01:35

A prominent two-building office portfolio in the heart of Doral has traded hands for $63 million. The sale comes as the previous ownership group executes a strategic shift following a major redevelopment deal enabled by Florida's Live Local Act.

The acquired properties, totaling over 140,000 square feet of Class A office space, are situated in a prime commercial corridor. The seller, a joint venture, recently capitalized on the state's new affordable housing legislation by selling a separate, adjacent parcel. That prior deal is paving the way for a new residential project, highlighting how property owners are reassessing their holdings in the current market.

Industry analysts note the transaction underscores a trend of investors repositioning assets to align with evolving market demands and new legislative incentives. The Live Local Act, designed to encourage mixed-use and affordable housing development, is prompting commercial property owners to evaluate the highest and best use for their portfolios.

The buyer has expressed confidence in Doral's enduring strength as a corporate hub, citing the city's robust infrastructure and diverse tenant base. The purchase represents a significant vote of confidence in the long-term stability of the Miami-Dade County office market, even as some owners explore alternative uses for their properties. The successful sale indicates continued investor appetite for well-located commercial assets in South Florida's dynamic landscape.