The office assets were developed between 1991 and 1996. The tenant roster includes Bank of America, the Discovery Channel Latin America, the Ford Motor Co. and Oracle Corp. Located in the Waterford at Blue Lagoon Office Park, Atrium Buildings at Waterford is near Miami International Airport and fronts the Dolphin Expressway (SR 836).
Christian R. Lee, executive vice president with CB Richard Ellis Institutional Group; Charles J. Foschini, senior director with CBRE|Melody's South Florida office; Randy Olen, senior vice president with CB Richard Brokerage Services; and Christopher Apone, associate with CB Richard Ellis Investment Properties, repped TIAA.
Lee could not be reached for comment. However, information on CBRE's website says the buildings are 6100 Waterford, 6303 Waterford and 6505 Waterford. The four-story 6100 Waterford was built in 1991 and consists of 161,743 sf. The four-story 6303 Waterford was built in 1993 and consists of 166,619 sf. The four-story 6505 Waterford was built in 1996 and consists of 166,384 sf. The typical floor size in all three buildings is 40,000 sf.
CBRE MarketView for the Miami office sector in the second quarter, the latest numbers available, states the market has seen positive absorption (241,588 sf) for the fifth consecutive quarter. In addition, average asking lease rates have risen "across the board in Miami," according to the report. "On a whole, lease rates increased 1.3 percentage points from last quarter, coming in at a current average rental rate of $25.88 per sf."
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