An affiliate of Hollywood, FL-based Swerdlow Real Estate Group Inc., headed by Michael Swerdlow, operates LightSpeed Miracle Center and two similar properties in the Miami-Dade airport/west submarket and in Hollywood.
Although terms of the deal were not announced, a Swerdlow spokesperson tells GlobeSt.com that Hispasat has a long-term contract of over 10 years.
Area brokers tell GlobeSt.com on condition of anonymity the estimated value of the lease is $2.5 million or about $25 per sf.
Founded in 1989, the Spanish company operates the orbital position of 30-degrees west, which enables the satellite system to offer services to customers in Spain, Portugal, Latin America and the United States.
The expansion follows the announcement in August that Paris, France-based Eutelsat entered into a strategic partnership with Hispasat.
Besides Eutelsat, other private shareholders include Auna Group, Telefonica Media and BBVA. Prior to the Eutelsat deal, all private shareholders owned about 71.54% of Hispasat, with Spanish government agencies owning about 28.46%.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
