The buildings, MPC-23 A and B, will be part of the fifth phase of the park, which has more than four million sf of space completed. The groundbreaking for the 73,000-sf and 46,000-sf buildings will be later this year, and occupancy is expected in the second quarter of next year.
"Our initial plans called for one flex/office and one industrial building," according to Andrew Ansin, vice president of Sunbeam Development, the park's developer. "However, the strength of the office/flex market and the difficulties in the industrial market led to the change."
The parking ratio for the new buildings is up to 10 spaces per 1,000 sf. A typical building is five spaces per 1,000 sf, Ansin says. "So those tenants with heavy parking needs are particularly interested in these buildings."
Also, according to Sunbeam, rental rates are "significantly" lower--up to $7 per sf--for flex buildings than for multi-office buildings. Other advantages of flex buildings are the ability to house office, office service and warehouse needs in the same location. Each space, custom built for its tenant, has independent HVAC and electrical systems to control operating expenses. Individual units have access round the clock and, with no common areas, only customers, employees and vendors enter the space.
The Miramar Park of Commerce, the largest corporate park in Broward County, is home to more than 120 national and international companies. Among them are American Express, Federal Express, Spirit Airlines, DHL, USA Today, Caterpillar, Quest Diagnostics, Sears, Nissan, Honeywell and Bacardi-Martini USA. Inc.. In all, more than 8,000 employees work in the park.
Recent leases executed there include International Aircraft Associates Inc.'s lease to expand from 4,000 sf to 10,000 sf of primarily warehouse space. In February, the company plans to move in a mid-term deal estimated to be worth $280,000. Also, Nipro Diabetes Systems, a division of Nipro Corp. of Osaka, Japan, received $155,000 from the city and recently opened its 37,473-sf headquarters in a long-term office and warehouse lease worth an estimated $1.3 million-plus.
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