Occupancy Skyrockets at Lakes Plaza

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.