The former Doral office building of the Miami Herald and its sister Spanish language newspaper, el Nuevo Herald, traded for $27.3 million. Institutional real estate investor Parmenter, also based in Doral, bought the property at 3511 Northwest 91st Avenue from Memphis-based SMPO, according to public records. Parmenter took out a $26.5 million loan from Ladder
The Miami Herald has decided to move out of their Doral offices at 3511 NW 91 Ave. in August. In a letter to their readers, they state that the current pandemic has accelerated the organization’s ability to work remotely.
The transaction was part of a six-property deal by Sacramento-based McClatchy where its newspapers sold six properties in four states to its pension plan for a combined $47 million. CLICK ON THE HEADLINE FOR MORE