Banyan Street, Independencia Refi South Florida Office With $54M
Wells Fargo provided the financing for the 290,000-square-foot property in Doral, Fla.
By Julia Echikson August 24, 2026 3:50 pm
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Banyan Street Capital and Independencia Asset Management have nabbed $53.5 million to refinance an office complex in Doral, Fla.
Wells Fargo provided the financing that backs the 290,000-square-foot Doral Center property.
The 10.8-acre campus includes two buildings — one rising six stories and the other seven — at 3750 Northwest 87th Avenue and 8750 Northwest 36th Street in the Miami suburb.
Doral Center, built between 1985 and 1990, is about 85 percent leased, according to CBRE, whose Amy Julian and Andrew Chilgren brokered the debt. Tenants include coworking operator Quest Workspaces, which leases about 38,000 square feet.
The owners have spent $15.5 million updating the asset since buying it for $43 million in 2020 during the height of the pandemic. The 2020 sale price was about $4.3 million less than what the property had traded for four years earlier, according to property records.
“The extensive capital improvements have completely transformed Doral Center into a premier workplace environment,” Julian said in a statement. “This strategic repositioning, combined with South Florida’s robust economic fundamentals, has enhanced the property’s competitiveness and triggered an immediate surge in leasing activity.”
This January, the joint venture sold about three acres for $6 million to residential developer ROVR Development.
A representative for Banyan Street Capital and Independencia Asset Management did not immediately respond to a request for comment.
Julia Echikson can be reached at jechikson@commercialobserver.com.
