Blanca CRE Arranges 51,000 SF Lease With Verizon

Blanca Commercial Real Estate announced that Verizon has signed a 51,484-square-foot lease at Waterford Business District, marking Miami’s largest office lease transaction of 2025 to date.

Juan Ruiz, Andres del Corral, Jack Davidson, Tere Blanca and Jessy Aguila of Blanca CRE represented the property’s ownership, a joint venture between Nuveen Real Estate and PIMCO Prime Real Estate who acts on behalf of Allianz insurance companies. John Marshall and Josh Kuriloff of Cushman & Wakefield represented Verizon. Blanca CRE serves as the exclusive leasing agent for the WBD portfolio.

“Verizon’s expansion into Waterford Business District reflects Miami’s emergence as a major hub for corporate investment and innovation,” said Ruiz, Vice Chairman of Blanca Commercial Real Estate. “Companies seek strategic locations that enhance connectivity, productivity and employee well-being—Waterford Business District delivers on all fronts and is recognized as a place where business happens in Miami.” 

The 250-acre Waterford Business District, adjacent to Miami International Airport, encompasses over 3 million square feet of Class A office space, including a 1.65-million-square-foot joint venture portfolio spanning seven Class A office buildings. These buildings have undergone extensive renovations, featuring redesigned lobbies, enhanced outdoor spaces, and upgraded amenities such as a state-of-the-art conference center and a dynamic tenant lounge with games, meeting rooms, and collaborative work areas. Expanding its mobility offerings, the district will soon launch e-bikes and a large shuttle service connecting tenants to the Miami Intermodal Center (MIC) and the Brightline station. Additional improvements include fitness centers, waterfront spaces, high-speed Wi-Fi, and an array of curated programming, from outdoor yoga to food truck events. A dedicated mobile app provides seamless access to building events and exclusive tenant offerings.

“Verizon’s commitment to Waterford Business District reflects the strength of Miami’s office market and validates our ongoing investment in creating a premier corporate environment,” said Charles Russo, Senior Director, Asset Management Lead of East Region of Nuveen Real Estate. “As we continue enhancing our amenities and sustainability initiatives, Waterford remains uniquely positioned to serve forward-thinking global companies seeking modern, flexible workspaces.”

Since 2019, Blanca CRE has facilitated over 1.5 million square feet of office leasing at WBD, most recently a new lease of  78,000 square feet with Assurant, which relocated their headquarters from South Dade, 60,000 square-foot new lease with Subway’s HQ, originally based in Connecticut, Independent Purchasing Cooperative 26,000 square-foot lease, an expansion of Swatch and several renewals including SAP, Hilton and Rolls-Royce.

The District’s excellence has been recognized with a TOBY (The Outstanding Building of the Year) Award for the past two consecutive years, a testament to its world-class management and operational quality of Cushman & Wakefield.