Thought Leader Presented by Cushman and Wakefield
Robust Leasing Activity Raises Miami Office Complex’s Occupancy Rate
Club Med Sales renewed its 13,005-square-foot lease at Waterford Atrium and expanded by an additional 2,680 square feet. The company now occupies 15,685 square feet at 6505 Waterford, where it houses its sales operations.
MIAMI—A host of new lease and renewal transactions totaling nearly 53,000 square feet have brought the Waterford Atrium office complex here to 93% leased.
Cushman & Wakefield, which also manages the three-building 495,870-square-foot Waterford Atrium complex, said the firm brokered 52,674 square feet in lease deals at the property through the first two quarters of this year. The Cushman & Wakefield office leasing team of Jeannette Mendoza, Brian Gale, Ryan Holtzman and Andrew Trench represented owner MetLife Real Estate Investors in the multiple lease transactions.
In June, Banyan Health Systems leased 9,482 square feet at 6100 Waterford. The company was formerly a subtenant in the building. Vladimir Golik of KW Commercial represented Banyan Health Systems. In addition, American Prime Group leased 1,619 square feet at 6100 Waterford. The company is relocating from 5775 Blue Lagoon Drive. Mayda Gomez of American Prime Realty represented the tenant in the deal.
Waterford Atrium’s three buildings were developed between 1991 and 1996 and are located at 6100 Blue Lagoon Drive (6100 Waterford), 6303 Blue Lagoon Drive (6303 Waterford) and 6505 Blue Lagoon Drive (6505 Waterford) in Miami’s Waterford at Blue Lagoon business park.
Some of the larger earlier lease deals included Executive Data Systems’ 7,971-square-foot lease at 6100 Waterford in March. Marc Pearl of Pearl Real Estate Advisors represented Executive Data Systems in its direct lease with the landlord. A significant renewal involved The Art of Shaving’s recommitment to its 9,312-square-foot space at 6100 Waterford, home to the company’s corporate offices, also in March. Andrew Easton of The Easton Group negotiated on behalf of the tenant.
A significant lease deal was closed in April when Club Med Sales renewed its 13,005-square-foot lease at Waterford Atrium and expanded by an additional 2,680 square feet. The company now occupies 15,685 square feet at 6505 Waterford, where it houses its sales operations. JLL’s Matthew Goodman represented Club Med Sales.
“The significant leasing activity we’ve seen at Waterford Atrium this year is a product of MetLife’s and Cushman & Wakefield’s award-winning ownership and management teams as well as the campus’ stellar location across from Miami International Airport,” says C&W’s Mendoza. “These buildings attract companies, many of them international, for whom access to the airport and interstate system is paramount.”
MetLife Real Estate completed a five-year, $3.5-million capital improvement campaign in mid-2016, which included restroom renovations, new marble lobby floors, ENERGY STAR-rated roof replacements, new LED light fixtures in the atriums and the parking garage, resurfacing of the parking garage deck and a new state-of-the-art fitness center.
Other notable tenants at the complex include: L’Oréal Retail Americas, Zimmer Biomet, Regus, Johnson & Johnson, Discovery Channel Latin America and Oracle.
The LEED-certified buildings have won numerous awards, including 25 Building Owners and Managers Association (BOMA) Outstanding Building of the Year awards. 6100 Waterford and 6303 Waterford were recently recognized as BOMA International winners in the Suburban Office Park Low-Rise category.