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Q3 Leasing Hits 90,000 SF at Doral Center

MIAMI-Several companies are inking deals at the 1.4 million-sf, 30-building business park, which is undergoing major renovations. The third-quarter deals have an estimated value of close to $8.8 million. Year to date, 236,000 sf in leases have been signed at the park.

By Melissa Bogdany | Updated on October 13, 2003

MIAMI-Recent and upcoming renovations at Doral Center, a 1.4 million-sf business park in the Airport West submarket of the city, are paying off. In the last quarter, the park, which is approximately 76% occupied, signed 90,000 sf in leases, according to Jay Perkins, senior vice president and regional director for Florida for Jones Lang LaSalle, which leases and manages Doral Center.

The terms of the deals were not disclosed, but based on the asking rental range for class A space in the park of $20 to $22 per sf, and the asking rate for class B space of between $18 and $19 per sf, the deals are estimated to be worth nearly $8.8 million combined.

The recent activity boosts the leasing deals in the business park above the 200,000-sf mark over the last year. “Year-to-date leasing in the park is 236,000 sf, which in today’s market is no small feat,” Perkins says.

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