Terremark Holdings Sells South Florida Headquarters Building.

Publication: The Miami Herald (Miami, Florida) (via Knight-Ridder/Tribune Business News)

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COPYRIGHT 2000 The Miami Herald

Byline: Gregg Fields

Apr. 25--Clearing the way for a transforming merger later this week, Terremark Holdings has sold its Coconut Grove headquarters building, bringing a price that it says represents record value for metropolitan Miami.

Terremark Centre, the South Bayshore Drive high-rise whose problems caused the company to crash in the early 1990s, sold for $58.8 million.

That calculates to $200 per square foot, a record price for a Miami commercial property, said Manny Medina, head of Terremark. The structure is 21...

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