Doral Center
The Florida Department of Revenue and six private companies are opening offices at Doral Center, a pair of seven-story office buildings at 8750 N.W. 36th St. and 3750 N.W. 87th Ave.
The state agency will lease a 28,610-square-foot office for its Miami taxpayer service center, said Gordon Messinger, executive VP of CBRE’s Miami office.
Other new Doral Center tenants are:
Messinger, who represented Miami-based landlord Banyan Street Capital in the lease negotiations, said the new tenants are relocating from other areas of Miami-Dade County.
Three current tenants – medical supply company Arthrex Latin America (2,226 square feet), Atlas Real Estate Group (1,685 square feet) and Florida Property & Casualty (1,260 square feet) – renewed their leases during the third quarter, he added.
Doral Center, comprising 290,000 square feet of offices, is undergoing a $14 million renovation and is 60% leased, Messinger said. Average asking rents are $24 a square foot, triple net, he added.
Banyan Street Capital and Miami-based Independencia Asset Management paid $43 million for both buildings in September 2020, according to the Miami-Dade Property Appraiser. One Doral Center was built in 1985. Two Doral Center was completed in 1991.
333 S.W. 12th Ave., Deerfield Beach
Sun-Sentinel Co. LLC renewed its 290,503-square-foot lease at 333 S.W. 12th Ave. in Deerfield Beach. The campus, built in 1988, includes a printing plant, distribution center and a two-story office component, according to Berger Commercial Realty.
Berger Commercial brokers Keith Graves and Jonathan Thiel represented Sun-Sentinel Co. Tom O’Loughlin of CBRE represented the landlord, a subsidiary of GPT Operating Partnership LP, a New York-based REIT.
GPT bought the 23.02-acre property the campus stands on from Sun-Sentinel Co. for $25.5 million in May 2016.
Cypress Park West
Avon, Connecticut-based Norcom Mortgage recently opened its fifth Florida office within the Cypress Park West commercial park at 6750 N. Andrews Ave. in Fort Lauderdale.
The 210-square-foot branch, which houses three employees, is within a Regus coworking location.
Norcom’s other Florida branches are in Delray Beach, Naples, Tampa and Weston.
Baker McKenzie signs lease at 830 Brickell
Chicago-based law firm Baker McKenzie will lease 18,000 square feet at 830 Brickell, a 55-story Class A office building under construction at 830 Brickell Plaza in Miami.
David Goldstein, Tom Capocefalo, John Mambrino and Brian Day of Savills represented the law firm. Brian Gale, Ryan Holtzman and Andrew Trench of Cushman & Wakefield represented 830 Brickell developers OKO Group and Cain International.
Baker McKenzie will relocate from at Sabadell Financial Center at 1111 Brickell Ave.
Scott Brandman, managing partner of Baker McKenzie’s Miami and New York offices, said the move to 830 Brickell “will be a reflection of our high-caliber talent, who provide our multinational, diverse client base with a full range of legal services.”
Founded in 1949, the firm has more than 700 attorneys in its U.S. offices, including 54 based in Miami, according to BCG Attorney Search.
It will not be the only law firm at 830 Brickell.
Winston & Strawn LLP leased 35,000 square feet to establish a Miami presence for the first time. Savills’ Capocefalo and Mark O’Donnell represented the firm in its lease. Gale, Holtzman and Trench represented 830 Brickell.
830 Brickell has attracted big-name companies including Microsoft; billionaire Ken Griffin’s Citadel hedge firm; and Sidley Austin, another Chicago-based law firm that signed on to occupy 60,000 square feet for its first Miami office.
THE BIG NUMBER: $2,841
The average monthly residential rent in South Florida, according to an index coproduced by Florida Atlantic University
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