top of page



aventura view.

SQUARE2 principals purchased this 10-story office tower in an off-market acquisition for $20.2 million. Investing over $3 million in building capital, we upgraded the tenant experience with a new lobby, refurbished common areas and various site improvements. We established an on-site management presence – the first in the property’s history – resulting in improved service, more efficient operations, and reduced operating expenses. Additionally, we instituted third party leasing, repositioned tenants from short-term, low-credit leases to long-term, high-credit leases, and increased average net rents by $8-$10 PSF and in the process, completed over 90,000 square feet of leasing. We also bought additional land to improve parking and facilitate a bank drive through. After three years, the asset was sold for nearly $40 million, nearly double its original purchase price, for returns in excess of 30%.

suntrust building.

SQUARE2 principals purchased this 11-story office asset in an off-market acquisition for $250 PSF in the Pelican Bay submarket of Naples, Florida. Taking advantage of a strengthening office market, the team invested in select capital improvements and an aggressive leasing campaign that took the asset from 78% to 92% leased in 12 months, encompassing 15,000 square feet of both new and renewal tenants. The property was sold to a life insurance company for $344 PSF and 30% returns.

park place office.

SQUARE2 principals acquired this 6-story, 120,000 square foot property as part of Park Place Office and Promenade, a larger $22.0 million portfolio ($100 PSF). The purchase was from a private REIT seller through a broken marketing process. Though aggressive leasing and strategic capital investments and the completion of some 60,000 square feet of leases, the team was able to increase rents by 20%+ and occupancy to 94% at the time of sale, including long term leases to Johnson & Johnson, ThreatTrack Security and Wells Fargo. The property was sold to a pension fund advisor for $166 PSF, generating a 44% return.

the promenade.

SQUARE2 principals acquired the 80,000 square foot property for $5.0 million ($62 PSF), as part of Park Place Office and Promenade, a larger $22.0 million portfolio ($100 PSF) in 2015 from a private REIT in a broken marketing process. The adjacent property owner had wanted to buy the property on a one-off basis for strategic reasons, but seller would only sell  the portfolio. The property was 70% leased and had had problematic tenant retention. The team increased occupancy to 100% on long-term leases through necessary capital upgrades. A mere five-months after the acquisition, ownership disposed of the property to adjacent owner for $8.0 million or $160 PSF.   

the offices at pelican bay.

  • Property Name: The Offices at Pelican Bay 

  • Location: Naples, Florida

  • Submarket: North Naples, Pelican Bay

  • Type:  Office

  • Purchase Price:  $34 Million

  • Status: Current

offices in the grove.

  • Property Name: Offices in the Grove

  • Location: Miami, Florida

  • Submarket: Coconut Grove

  • Type: Office

  • Sale Price: Undisclosed

  • IRR: 25%

  • Hold Period: 3-years

  • Partner: Comingled fund

150 alhambra.

In conjunction with a European family office investor, in an off market transaction, SQUARE2 principals acquired this boutique 105,733 square foot, 90% occupied Class B office building, built in 1984 and located in the desirable Coral Gables submarket of Miami. SQUARE2 approached the owner after a transaction with an institutional investor did not materialize. SQUARE2 entered into a fairly protracted negotiation with a seemingly difficult and intransigent seller, which ultimately resulted in the closing of this unique acquisition. The prior owner purchased the property in 2004 and while they maintained the building, did little in the way of upgrades, preferring to attract tenants by offering low rental rates. SQUARE2, as the operator, devised a concentrated and business plan focusing on a long-term holding strategy that included up-grades to all of the common areas and plaza, reconfiguring the lobby and working proactively to re-stack multiple existing tenants and thereby creating more contiguous and less choppy un-leasable space that would be appealing to the tenant market. In doing so, repositioned the asset to a Class A- status, increased rental rates substantially, as well as occupancy.

bottom of page