Westport Business Park
Kinship PACE of South Florida LLC, a subsidiary of New York-based Kinship Health, has signed a 13-year-lease at Westport Business Park.
The 21,810-square-foot space at 2555 Davie Road in Davie will be utilized as center for PACE, a Medicare and Medicaid program that provides health services for the elderly. (PACE stands for Programs of All-Inclusive Care for the Elderly.)
Kinship Health is a technology and service organization that partners with PACE, according to the company’s website.
Donna Korn and Beau Ladwig of Cushman & Wakefield represented Kinship PACE of South Florida. Lauren Pace of Duke Realty represented the landlord, Duke Westport LLC.
Built in 1990, the Westport Business Park comprises three buildings that total 199,731 square feet of office, warehouse and distribution space. Duke Westport LLC, a subsidiary of Indianapolis-based Duke Realty Corp., paid $15.89 million for the business park in February 2011, according to Reonomy, a property research website.
International Corporate Park
The Miami-Dade County Elections Department secured a lease for a 144,726-square-foot warehouse facility at 9835 N.W. 14th St., in International Corporate Park in Doral. Frank Trelles and Jason Gonzalez of State Street Realty represented the department. Sebastian Juncadella and Jose Juncadella of Fairchild Partners represented the landlord, PR International Services, LLC.
PR International Services, a subsidiary of Newark-based PGIM, paid $40.44 million for the 8.43-acre property in May 2012, according to the Miami-Dade Property Appraiser website.
Lincoln Road
A pair of New York-based retailers will lease a total of 4,448 square feet of space on Lincoln Road in Miami Beach.
Callista Couture will occupy a single 1,215-square-foot space at 612 Lincoln Road. Unfashional will occupy 1,558 square feet at 817 Lincoln Road, plus 1,675 square feet at 815 Lincoln Road, which will be operated as a pop-up space.
Stephen Bittel, founder and chairman of Miami Beach-based Terranova Corp., arranged the leases.
Terranova paid about $309 million for the historic 600 and 801 Lincoln Road properties in August 2014, according to the Miami-Dade Property Appraiser.
Wells Fargo Center
Participant Capital and Royal Palm Cos., both led by CEO Daniel Kodsi, relocated their offices to the 30th floor of Wells Fargo Center, 333 S.E. Second Ave. in Miami.
The real estate companies are leasing a total of 18,500 square feet, enough room to accommodate about 60 employees, said Bernard Wasserman, president of Participant Capital. The companies’ previous space, at 1010 N.E. Second Ave., was about 10,000 square feet.
Cushman & Wakefield represented Participant Capital, Royal Palm Cos. and the landlord, Wasserman said.
In March 2007, an affiliate of New York-based MetLife, (NYSE: MET) paid $34 million for the 1.15 acres under the 47-story Wells Fargo Center, which was completed in 2010, according to Reonomy.
Financial firms ink deals at Four Seasons Tower
Two large financial firms have signed leases for space at a 70-story high-rise in Miami’s Brickell Financial District.
Silicon Valley Bank and MFS Investment Management recently secured space on the 15th floor of the Four Seasons Hotel and Tower, which has 250,000 square feet of offices.
The two contracts – plus a third, confidential deal – bring the office portion of the tower, at 1441 Brickell Ave., to full occupancy, said CBRE Executive VP Gordon Messinger, who was the exclusive listing agent for the tower’s landlord, Millennium Partners.
Silicon Valley Bank, a Santa Clara, California-based subsidiary of SVB Financial Group, signed a 5.5-year lease for 8,600 square feet at $62 a square foot, Cresa Partners principal Robert Orban said.
Orban and Cresa VP Jenny Turner represented Silicon Valley Bank in the lease negotiations.
The bank, which oversees $220 billion in assets, gained a foothold at the Four Seasons tower when it acquired Boston Private in July 2021 and inherited that company’s space. Those offices will now be modernized, a project that should be finished in the second quarter of 2023. Thereafter, Silicon Valley Bank will expand beyond its current Miami staff of 35, Orban said.
MFS Investment Management, a Boston-based subsidiary of Canadian financial services giant Sun Life Financial (NYSE: SLF), will move into a 2,350-square-foot space at the tower later this year.
MFS has $581 billion in assets under management, according to the company’s website.
Carlyle Coffin, managing director of Newmark’s Miami office, represented MFS in the lease negotiations.
THE BIG NUMBER: 435
Workstations that Tel Aviv-based coworking firm Mindspace will bring to its 30,000-square-foot office at The Gateway at Wynwood in Miami
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