A Doral church is giving new life to an office building previously home to Univision’s Telefutura operations.
Iglesia Doral Jesus Worship Center paid $9.5 million for the nearly 80,000-square-foot building at 1900 Northwest 89th Place, more than two years after the property hit the market for $12.75 million.
The church financed the deal with a $6.4 million mortgage from West Palm Beach-based Flagler Bank, according to property records.
The deal breaks down to about $119 per square foot, and includes the 1.84-acre parking lot across the street.
The buyer is led by pastors Frank and Zayda Lopez, who founded the church in 2004, according to its website. The church plans to redevelop the property into a facility with a 1,500-seat temple, a lobby with a bookstore and a children’s area.
John K. Crotty, Michael T. Fay and David Spillers of Avison Young represented the seller.
Univision Telefutura, which featured shows such as “Escándalo TV,” was later rebranded as UniMas before Univision’s office move. The company paid $5.25 million for the property in 2001.
Univision moved out of the building after it signed a 12-year agreement valued at $14 million in October 2015 for 40,000 square feet of space in another Doral building.
Source: The Real Deal