Mana Common founder and chairman, Moishe Mana, has added another major property to his growing Downtown Miami holdings, purchasing the 31-story One Downtown office tower for $110 million. The property, located at 1 Southeast Third Avenue, was sold by Los Angeles-based PCCP and Boca Raton-based CP Group.
The deal works out to roughly $244 per square foot for the 450,000-square-foot building, further cementing Mana’s role as one of the most influential real estate owners in the city’s urban core.
Originally known as the SunTrust International Center, the tower has undergone significant renovations in recent years and includes a variety of amenities such as a rooftop terrace, ground-floor retail, and a large parking garage. The building also houses several tenants, including technology companies and professional service firms that continue to expand their presence in Downtown Miami.
The acquisition fits into Mana’s long-term vision for transforming Downtown Miami’s Flagler Street corridor into a hub for innovation, business, and international connectivity. Mana has spent more than a decade assembling properties in the area, building a portfolio that now includes around 80 buildings downtown, along with significant land holdings in Wynwood, including the large event and creative complex Mana Wynwood.
Speaking about the purchase and his broader strategy for the district, Mana said, “We believe in the Flagler District, and we will continue to increase our investment in South Florida.”
The purchase comes as Miami continues work on the long-planned Flagler Street streetscape project, a public improvement initiative intended to make the historic corridor more pedestrian-friendly and attractive to businesses. Mana has been a major advocate and supporter of the project, which aligns with his vision of creating a connected downtown ecosystem for entrepreneurs and companies from across the Americas.