CBRE Arranges Sale of Doral Office Tower

By Timea Papp

One Park Square

CBRE South Florida Capital Markets brokered the sale of One Park Square, a 281,786-square-foot, Class A+ office tower in downtown Doral, Fla. New Boston Fund sold the asset to an entity affiliated with Boston-based institutional advisor TA Realty, public records show.

Located at 3470 NW 82^nd Ave., at the site of the former Ryder headquarters, the 11-story building features six stories of office space atop a five-story integrated parking garage and 49,942 square feet of ground-floor retail. One Park Square offers tenants amenities including on-site management services, a conference facility, fitness center, controlled access and valet services. Completed in 2010, the property is 91 percent leased to a diverse group of tenants belonging to industries such as technology, marketing, entertainment, travel, healthcare and logistics.

Advisory team details

CBRE’s team of Vice Chairman Christian Lee and Senior Vice President José Antonio Lobón, alongside Vice President Amy Julian and Financial Analysts Andrew Chilgren and Marcos Minaya, worked on behalf of the seller in the transaction. President & CEO Tere Blanca, Vice Chairman Danet Linares and Vice President Andres del Corral of Blanca Commercial Real Estate assisted CBRE’s team in marketing the property, as did Paige Musch and Liz Cruz of Stiles Property Management.

“One Park Square’s location affords the property’s office tenants with walkability to retail on par with some of South Florida’s densest metropolitan cores,” said Lee, in prepared remarks.

The office tower is adjacent to the newly constructed CityPlace at Doral, a multi-block lifestyle center that includes 701 apartments and 300,000 square feet of entertainment venues. One Park Square is proximate to numerous restaurants and bars, a Fresh Market, a luxury movie theatre, nine boutiques and a bowling alley.

Image courtesy of CBRE