More New Tenants Announced At Waterford Business District Totaling 60,000 SF

Blanca Commercial Real Estate announced the signing of several new leases within Miami’s Waterford Business District (WBD), owned in joint venture by Nuveen Real Estate and Allianz Group.

In addition to 17,000 square feet in leases signed by CRESA that were reported by CRE-sources earlier this week, Blanca CRE announced the signing of approximately 60,000 square feet of leases including:

• HNTB, an engineering firm relocating from downtown Miami
• John Paul USA, a premier global luxury concierge service specializing in high-net-worth clients
• Wexler Insurance Agency, an independent insurance agency relocating from Coral Gables
• The Prudential Insurance Company, an American Fortune Global 500 and Fortune 500 company providing insurance, retirement planning, investment management, and more – relocating from Coral Gables
• The Miami Herald, relocating from Doral

and several lease renewals totaling over 37,000 square feet including:

• Toyota Tsusho America, a multi-market, multi-business firm for enterprise-level industries like automotive, electronics, and agribusiness
• Alca Trading Corp.
• Diaspora Talktime Inc.
• Bristol Hospice
• CareCloud Health
• Jamaica Tourist Board
• and Terra Flowers 

These companies will join an exclusive tenant roster including Franchise World Headquarters (Subway), Toyota, FedEx, Atkins, Sony, Gilead, Novartis, Estee Lauder, The Swatch Group, State Farm, Rolls-Royce, Yamaha and more.

The WBD, spanning 250 acres, is a corporate hub in the heart of Miami, where the joint venture owns 1.65 million square feet of Class A office space within it. This sought-after destination attracted and continues to draw tenants migrating to Miami, as well as local companies.

Following approximately $30 million in capital improvements, WBD has launched new tenant community programs and an additional $7 million in capital improvements are underway in 2023.

Waterford Business District, situated adjacent to Miami International Airport, offers tenants a highly accessible and convenient location. With top-notch office space, hotels, residential offerings and retail, the District is also fully equipped with a range of amenities and community programs aimed at wellness and making the workspace enjoyable.

“We’re absolutely thrilled to extend a warm welcome to our new tenants joining the dynamic community of Waterford Business District,” said Charles Russo, who serves as Nuveen’s Southeast Regional Head of Office and Life Science. “Our commitment to providing an exceptional tenant experience is unwavering, and the recent additions to our tenant roster are a testament to the capital improvements and strategic initiatives we’ve implemented, tailored to meet the needs of world-class corporate users. We’re constantly working to enhance the overall environment and services we offer to our valued tenants, and we’re excited to see our efforts come to fruition with the addition of these esteemed new tenants.”

Blanca Commercial Real Estate has finalized over 100,000 square feet of leases at WBD year to date and anticipates robust leasing activity through year-end. The leasing team is spearheaded by Juan Ruiz, Vice Chairman; Andres del Corral, Executive Vice President; Jessy Aguila, Marketing and Leasing Manager, Jack Davidson, Associate; and Tere Blanca, Founder, Chairman & CEO.

“The impressive leasing momentum we’ve seen in the past year and 2022 is evidence of WBD’s appeal to a broad range of companies migrating to Miami and local businesses,” said Ruiz. “Our highly accessible South Florida location, capital improvements, amenities, tenant services programs, and cost savings have drawn tenants seeking office space outside of urban areas. Companies like HNTB, Wexler Insurance Agency, and The Prudential Insurance Company are realizing the benefits of our strategic suburban location, offering convenience, efficiency, and a conducive work environment.”

Details on WBD Initiatives

The JV behind WBD has launched several renovation projects and initiatives aimed at elevating the District into a modern, forward-thinking corporate mixed-use campus. The capital improvements and new services introduced at WBD include complimentary shuttle service within the District and to nearby amenities, bike share programs, free Tesla service to and from the airport for executives, waterfront outdoor amenities with improved Wi-Fi connectivity and work areas, new outdoor collaboration areas, updated restrooms, renovated lobbies, and common areas, new conference facilities and tenant lounges, tenant activations and events including outdoor yoga classes and gourmet food trucks. Additionally, the WBD Tenant App was launched to provide tenants with building and event updates, access to amenities, and tenant discounts at area restaurants. Recently, the extensive Class A office portfolio became part of a select network of Wired Certified buildings across the globe that provide top-notch connectivity. Wired Score assesses a building’s resilience, readiness for the future, mobile connectivity, provider availability, and overall user experience.

Waterford Business District provides a range of office space options from 1,000 square feet to 190,000 square feet. Additionally, WBD offers a distinctive build-to-suit opportunity on 30 acres of land that is fully entitled to accommodate up to 850,000 square feet of additional office space, 800 units of multi-family housing, 30,000 square feet of retail space, 500 restaurant seats, a 10,000 square foot health club, and 962 hotel rooms.