MIAMI - One year after winning the exclusive leasing assignment at Waterford Centre, a 91,285-square-foot office building in Miami’s Airport submarket owned by New Boston Fund, a private equity real estate investment, development and management firm based in Boston, and advisory firm Blanca Commercial Real Estate has taken the building’s occupancy rate to 93 percent, marking a more than 20 percent increase over the past year. The firm completed four new leases accounting for 28,000 square feet of Class-A space, including leases with appliance manufacturer Whirlpool, global spirits manufacturer Remy Cointreau, software developer McAfee, Inc. and commercial real estate services firm Franklin Street.
Waterford Centre – located at 6205 Blue Lagoon Drive within the 250-acre Blue Lagoon Business Park – was constructed in 1999 and has since attracted a strong roster of tenants, including Xerox, The Parker Company, LLC, Travel Traders and OMD USA.
Waterford Centre features state-of-the-art security systems, including card readers, video cameras, visitor tele-entry devices, on-site security guard service, and reserved/covered parking. Since acquiring Waterford Centre in 2012, New Boston has upgraded the lobby furniture and artwork, redesigned the landscaping at the entryway, and completed work on the parking deck.
“We are thrilled to welcome these four companies to Waterford Centre,” said Pamela Adamian, Vice President of Asset Management at New Boston Fund. “The property is highly competitive in the Miami market, offering tenants unparalleled amenities and high quality office space.”
Blanca Commercial Real Estate Executive Vice President Danet Linares and Vice President Andres del Corral spearhead leasing and marketing for the property on behalf of owner New Boston Fund.
“We have effectively positioned Waterford Centre as an ideal home for major multinational corporate users,” said Tere Blanca, President and CEO of Blanca Commercial Real Estate. “This wave of recently-completed leases demonstrates that Waterford Centre appeals to a segment of corporate users seeking a true Class A property in Miami’s Airport West market. Our activity over the past year is a testament to the quality of the asset and its ownership.”
Waterford Centre is situated at the intersection of Red Road (57th Avenue) and Blue Lagoon Drive (NW 11th Street), adjacent to Miami International Airport. Amenities include water views of Blue Lagoon; granite, marble and wood finishes; a 5:1,000 parking ratio, which ranks highest amongst its competitors; and on-site storage facilities for tenants.
“Blue Lagoon is one of Miami’s ‘go-to’ submarkets for major corporate users and FORTUNE 500 companies entering the South Florida region or expanding their presence here,” said Danet Linares, Executive Vice President with Blanca Commercial Real Estate. “Corporate tenants are drawn to Waterford Centre’s Class A finishes, proximity to Miami International Airport, access to workforce and executive housing, and above-market parking ratio.”
Floor plates at Waterford Centre vary in size from 10,800 to 16,529 rentable square feet of flexible space. Nearby amenities include numerous hotels, restaurants, a day care center, and a US post office. For leasing information, please contact Tere Blanca, Danet Linares or Andres del Corral of Blanca Commercial Real Estate at (305) 577-8850.
About Blanca Commercial Real Estate
Blanca Commercial Real Estate provides brokerage and advisory services to owners and users of commercial real estate with personalized and experienced counsel at every step of the transaction. Practice areas include landlord representation, tenant representation, build-to-suit advisory services, and land/investment property acquisition and disposition. For more information, please visit www.blancacre.com.
About New Boston Fund
New Boston is an independent, privately owned real estate investment manager and an industry leader in providing real estate investment, www.newbostonfund.comand management services with a history of strong sponsorship and oversight of its investment funds. New Boston has developed or acquired commercial and residential properties with a cumulative market value of about $3.5 billion, including 23 million square feet of commercial real estate and 7,500 residential units. Our investment vehicles cater to institutional and high-net worth investors by offering value-add and urban real estate investment funds with a focus on diversification and capital preservation. The New Boston Fund: People, Values, Returns.
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