Banesco USA Buys Miami Building for New HQ

The community bank will relocate to the roughly 60,000-square foot, three-story building near Miami International Airport.
3152 NW 77th Ave. Image via Google Street View

Banesco USA has purchased a 59,140-square-foot office building in Miami to house its more than 250 South Florida employees for $12 million. Windhaven Insurance sold the asset, CommercialEdge data shows, while Newmark represented the seller.

The community bank will move its headquarters from 150 Allhambra Plaza in Coral Gables, Fla., 8 miles northwest, to the three-story building on 3155 NW 77th Ave. The 3-acre site is situated in an Opportunity Zone near Miami International Airport, just off U.S. Route 826 and 11 miles west of downtown.

Built in 1990 and upgraded in 2003, the property includes a full kitchen and cafeteria, three elevators, as well as a three-story parking garage with a ratio of 6.2 parking spaces per 1,000 square feet. The new owner is planning to renovate the building.

Earlier this year, Banesco provided acquisition financing for the purchase of a 38,700-square-foot office property in Fort Lauderdale, Fla. Maynada Capital Advisors bought the asset for nearly $5 million.