Airport Corporate Center Inks 73,000 SF in Q1

MIAMI-In the first quarter, eight companies have signed leases totaling 73,000 sf and valued at more than $5.9 million at Airport Corporate Center, a more than one-million-sf, mixed-use business park in the city. The size is on par with respectable figures the last two years and significantly higher than the 13,192 sf signed in the fourth quarter of last year.Richard Bamonte, Tony Puente and Janette Sanchez of CB Richard Ellis Inc. represented the property owner, Miami RPFIV Airport Corporate Center Associates LLC , in the first-quarter leases.Included in the largest transactions are Brickell Financial Services Motor Club/Road America Motor Club, which signed on for 22,935 sf at 7300 Corporate Center Dr. and was repped by Susan Thomas of CB Richard Ellis; Safeco Life Insurance, which extended its 17,124-sf lease at 7300 Corporate Center Dr. and was repped by Dennis Richardson of Cushman & Wakefield; and Fiesta Marketing Inc., which signed a lease for 12,423 sf at 7415 Corporate Center Dr.In addition, Nextel South Corp., repped by John Pertchik of the Staubach Co., extended its 10,369-sf lease at 7235 Corporate Center Dr.; America’s Mortgage Source, repped by Jose Birchenall of Coldwell Banker, signed a lease for 1,817 sf at 7200 Corporate Center Dr.; Netco Inc. inked a 1,806-sf lease at 7205 Corporate Center Dr.; the Group Advanced Marketing & Advertising Inc. signed a lease for 1,327 sf at 7650 Corporate Center Dr.; and Norman G. Jenson Inc., repped by Elizabeth Santos of CB Richard Ellis Inc., took 1,231 sf at 7205 Corporate Center Dr.Bamonte says the quarter’s activity is good, but this year, there is not as much inventory as last year. As a result, “I don’t expect this year we’ll end up with 280,000 sf,” he says. But a decent second quarter, with 50,000 sf to 60,000 sf of leasing activity, is expected. The park had more than 280,000 sf in leasing activity last year and approximately 300,000 sf the year before.Airport Corporate Center contains 11 buildings, four of which are class A office buildings that total 632,680 sf; two of which are class B office buildings that total 173,810 sf; four of which are flex/office showroom buildings that total 168,235 sf; and one of which is a 43,752-sf warehouse building.