MIAMI—Lennar Corporation is renewing its commitment to Miami—and specifically the Airport West submarket—with one of South Florida’s largest office leases this year. Lennar just inked a 120,000-square-foot lease with Colony Realty Partners in a deal that shows Downtown Miami and Coral Gables aren't the only office games in town.

Lennar Corporation and its subsidiary, Rialto, renewed and expanded its anchor tenancy at Miami’s Lennar Corporate Center office park. The long-term lease, which includes office space at 700, 730 and 790 NW 107 Avenue, brings the building’s occupancy rate to 93%. The building is outperforming the Airport West submarket’s average class B vacancy rate of 24% in the wake of a flight to quality.

CREC principal David Moret and vice president Douglas Okun represented Colony Realty Partners in the transaction. Patrick M. Duffy and Jon Bourbeau of Newmark Knight Frank represented Lennar Corporation and Rialto. The deal gives Lennar an additional 30,000 square feet.