(Crystal Proenza is associate editor of Real Estate Florida.)

MIAMI-Shoma Development's One Park Square, a 231,500-sf class A office building located in the Airport West submarket, has reached its pivotal topping-off point. The project, located at 3600 NW 82nd Ave., is part of the 51-acre Park Square at Doral mixed-use development slated for completion in 2010.

The six-story office building is set to be complete by yearend, with tenants ready to move in during the first quarter of 2009, says Maggie Kurtz, director of office brokerage with Cushman & Wakefield and the exclusive listing agent for One Park Square. The building is sure to attract the interest of tenants looking for an international headquarters executive office, particularly Latin American companies, local brokers agree.

"We anticipate being 30% leased by the year's end," Kurtz says, adding that there is currently a 26,000-sf lease being signed and another 100,000 sf of proposals and letters of intent in play. Leasing rates at the development range from $23 to $24 triple net, with projected operating expenses of $9 per sf for 2009 and a tenant improvement allowance of at least $25, says Kurtz.