Netz Group Ltd. (TASE:NETZ) has bought the Miami Beach office of HSBC Holding plc (LSE: HSBA; HKSE: 005; NYSE, Paris: HBC) for $15.1 million. The 37,000-square foot six-storey building is leased to 15 tenants, anchored by HSBC Bank USA.
The property's net operating income (NOI) is $1.5 million a year.
Netz Group also owns the adjacent property, which will enable the company to submit building plans to redevelop both properties.
Published by Globes [online], Israel business news - www.globes-online.com - on February 17, 2013
© Copyright of Globes Publisher Itonut (1983) Ltd. 2013
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