CBRE Arranges 50,000 SF Of New Office Leases At Doral Center

CBRE has facilitated seven new office leases totaling nearly 50,000 square feet at Doral Center in Doral.

Throughout Q3 2022, the following tenants have signed new office leases: the State of Florida Department of Revenue (28,610 square feet), Mercury Air Cargo (5,429 square feet), Waypoint Contracting (3,841 square feet), Silver Bullet Technologies (3,688 square feet), Just Insurance Brokers (3,530 square feet), Ware Malcomb (3,221 square feet), and Sunlight Foods (1,353 square feet).

CBRE Executive Vice President Gordon Messinger represented the landlord, Banyan Street Capital, a Miami-based investor in premier office assets, in all lease negotiations.

Doral Center is a 290,000-square-foot Class A office complex located at the corner of Northwest 36th Street and Northwest 87th Avenue. Banyan alongside its joint venture partner, Independencia Asset Management, acquired the property in 2020 and began a $14 million capital improvement plan, including extensive upgrades to the building facades and landscaping, updated corridors and restrooms, expanded outdoor areas, a ground-up, four-story parking deck, new signage and enhanced programming. Banyan is also adding over 24,600 square feet of move-in ready spec suites to the development’s One Doral Center to meet the increased demand for plug-and-play space and turnkey ready spaces amid the pandemic.

“Banyan’s vision to reposition Doral Center has led us to continued leasing success. The renovations completed have resonated with companies looking to provide a better in-office experience for their employees,” said Messinger.

In addition to the new leases, CBRE has facilitated a renewal for Arthrex (2,266 square feet), a renewal for Florida Property & Casualty (1,260 square feet), and an expansion for Atlas Real Estate Group (1,685 square feet).

Messinger added, “The activity at Doral Center illustrates the strong fundamentals in Miami’s Airport-West submarket. It also showcases that the market is not only fueled by new-to-market tenants, but also relocations within the market as companies look for updated office spaces with more amenities.”