Avison Young has been selected by Univision Communications Inc., the media company serving Hispanic America, to market and sell its previously occupied address, 1900 NW 89th Place in the fast-growing city of Doral.
The offering includes a two-story, 79,271-square-foot office building situated on a 1.73-acre lot and an additional 1.84-acre site/surface parking lot directly across the street. Univision most recently occupied the property prior to expanding and moving its South Florida operations to another location within Doral.
Avison Young’s John K. Crotty, CCIM, Principal, and Michael T. Fay, Principal and Managing Director of the firm’s Miami operations, will spearhead the marketing and sale of the asset.
“At a newly reduced price, this asset presents a rare opportunity for a large owner/user or value-add investor seeking to take advantage of the regeneration currently unfolding within the booming Doral submarket of Miami-Dade County,” said Crotty. “Additionally, the buyer will benefit from the property’s easy access to all major highways, including the Palmetto Expressway (SR-836) and the Dolphin Expressway (SR-836), which is responsible for the high influx and flow of workforce talent and area visitors ideal for local and national businesses.”
Owner-uses most fitting for this property include medical/surgical center, office corporate headquarters, broadcast studio/production facility (with infrastructure in place), telecom data, religious, mission critical office (with secure “bunker”-type protection), customer service center, or operations center. The class B+ asset also fits the criteria for an investor interested in employing value-add strategies such as breaking up the space and making profit over time through aggressive management and leasing.
“Doral is primarily known for being home to numerous multinational operations and federal offices and approximately 120 corporate headquarters,” said Fay. “As an increasing number of companies are relocating to the area to be easily accessible to their employees and clients/customers, many large office complexes in the city are occupied by owner-users making an opportunity such as 1900 NW 89th Place uncommon and worthwhile.”
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