MIAMI—New Boston Fund has snapped up Waterford Centre, a 91,000-square-foot class A office building from Waterford Centre Ltd. Financial terms of the deal were not disclosed.

Waterford Centre is located in the Blue Lagoon Business Park at 6205 Blue Lagoon Dr. off the Dolphin Expressway. Built in 1999, the office building fronts the Dolphin Expressway immediately across from the Miami International Airport. The six-story building also features a five-per-thousand parking ratio, which ranks highest amongst its competitors.

Pryse Elam, Southeast regional director at New Boston Fund, tells GlobeSt.com the firm decided to purchase Waterford Centre for two reasons. First, the building is located in the premiere office park in Miami.

“Opportunities to buy class A buildings in this business park are very rare, and so when this one came along we jumped at the opportunity,” Elam says. “Secondly, we bought One Park Square about 18 months ago, which is located in the same submarket, and have had great results so far. We have already leased 16,00 square feet since we bought it in late 2010.”