NBCUniversal Telemundo Building $250M HQ

Brian Smith

MIAMI— NBCUniversal Telemundo Enterprises just entered a contract for a $250 million built-to-suit lease for its new broadcast center and studios in Miami. The international telecom giant’s campus will be home to several shows, including network news, the Nuevo Dia morning show, Al Rojo Vivo, and Novela productions. Cushman & Wakefield represented NBCUniversal in the deal. CushWake executive director Brian Smith , executive director Mike Davis , and senior director Audley Bosch represented the company in its efforts to consolidate about 1,300 jobs currently housed at various facilities throughout Miami-Dade County into a two-building, 560,000-square-foot campus. The office building is rising in the Prologis Beacon Lakes Development. “With the support of Comcast NBCUniversal, our new headquarters will incorporate best-in-class technologies and connectivity among our work areas, production studios and broadcast operations,” says Cesar Conde , chairman of NBCUniversal International Group and NBCUniversal Telemundo Enterprises. “The campus encompasses over 500,000 square feet across 21 acres and offers the flexibility to accommodate up to 1,500 employees.” Although financial terms were not disclosed, CushWake says this is likely the most valuable commercial real estate lease in Florida history. As part of a forward disposition, also arranged by CushWake, Prologis sold the land for the project to SunTrust Bank who is the serving as landlord. Prologis will remain onboard as a development consultant. “We are very happy to finally get to the finish line with this project,” Smith tells GlobeSt.com. “It’s been great to work with the NBCUniversal team to identify, secure and close on this historic transaction.” Beacon Lakes is a 478-acre multi-purpose business park on Miami’s west side offering frontage on Florida’s Turnpike. Prologis owns and operate the park, which is currently home to large corporate occupiers like Ryder Logistics, Panalpina, and Amazon. The Telemundo broadcast center and studios will be located at the corner of Northwest 25 ^th Street and Northwest 117th Place. The primary 476,000-square-foot facility will house more than 100,000 square feet of executive offices as well as state-of-the-art broadcast and entertainment studios, a network operations center, set design operations, and post-production facilities. A second, 87,000 square-foot building will be used for storage. “To say this has been a team effort would be a gross understatement,” Davis tells GlobeSt.com. “It’s been a collaboration of countless individuals and firms working hard on this project for almost three years.” NBC Universal purchased Telemundo in 2010. The company is expected to move into its new headquarters in 2019.