Nuveen unloaded a high-profile Miami financial district office building for $443 million. Morning Calm Management was the buyer. JLL’s Capital Markets group announced today that it arranged the sale of 701 Brickell, a trophy Class AA office building totaling 685,279 square feet.

JLL says Brickell is currently the top-performing office market in the United States in terms of occupancy and rent growth. The company also said 701 Brickell represents the second largest office transaction in Florida history, just behind the $540 million sale of the 1.2 million square foot Southeast Financial Center arranged by JLL in 2016.

The 33-story office was constructed on the 3.83-acre site in 1986 and was last sold in 2002 for $172 million. Nuveen Real Estate acquired 701 Brickell in 2002 and recently renovated it with $30 million in capital improvements. Charles Russo led the sale effort for Nuveen.

Manny de Zarraga, Matt McCormack, Ike Ojala, and Hermen Rodriguez led the JLL Capital Markets team representing the seller. 

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