Search
 

Occupancy Skyrockets at Lakes Plaza

MIAMI-The Miami Lakes, FL property has gone from 50% occupancy in September to 94% now. It was purchased by a joint venture between Aquila Property Co. Inc. and AMC Delancey Group Inc. Recent leases have a combined value of about $4.7 million.

By Melissa Bogdany | Updated on April 08, 2003

MIAMI-With four recent leases at Lakes Plaza in Miami Lakes, FL, the 15-year-old office building’s occupancy has increased to 94% from 50% in September, when South Florida’s Aquila Property Co. Inc. acquired the property in a joint venture with AMC Delancey Group Inc.

The leases have a total approximate value of nearly $4.7 million and are for a combined 25,945 sf. Grace Blanco of Abood Wood-Fay Real Estate Group LLC represented Aquila in all the deals.

Recent leases at the 44,600-sf Lakes Plaza are: -Premier Community Bank of South Florida, which inked a 10-year lease for 11,562 sf. The deal is worth approximately $2.9 million. The bank plans to relocate its headquarters to the property and open a 3,500-sf branch on the ground floor. -NSI Insurance, which signed a six-year renewal and expansion lease for 9,245 sf. NSI previously leased 6,974 sf. The deal is valued at about $1.2 million. Wayne Schuchts of CB Richard Ellis represented NSI Insurance in this transaction. -Capital Prime Mortgage Co., which signed a five-year deal for 4,185 sf. The lease is worth approximately $475,000. -LMH & Associates Inc., an insurance company, which signed a five-year lease for 953 sf. This lease has an approximate value of $100,000.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 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.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.