C&W Adds Tenant to Newly Built Miami Office Asset

By Timea Papp

800 Waterford in Miami

Cushman & Wakefield has negotiated a new lease at a recently completed, 246,085-square-foot office building in Miami. First Bank Florida has agreed to occupy 26,000 square feet at the Class A property.

Located at 800 Waterford Way, the 10-story building was completed in August 2017 and sits within the 250-acre Waterford at Blue Lagoon business park. The bank is relocating its Miami administrative office from another building in the office campus, 701 Waterford.

Built as a speculative project, the property known as 800 Waterford features a conference center, on-site security, coffee bar and a five-story parking deck. Additionally, tenants have access to the fitness centers and cafés within the Waterford business park.

Growing tenant base

The Cushman & Wakefield team of Executive Director Tony Jones and Senior Director Ryan Levy represented the tenant in the lease negotiations with landlords TIAA-CREF and Allianz Real Estate. The advisory team also represented the first tenant to lease space in the building. Last year, Atkins N.A. agreed to occupy 26,000 square feet at 800 Waterford.

“By relocating to 800 Waterford, First Bank Florida secured a more efficient spatial footprint within one of Miami’s premier office buildings,” said Levy, in a prepared statement.

Waterford at Blue Lagoon is centrally located in Miami-Dade County and is adjacent to Miami International Airport. The business park provides access to major transportation arteries including the 826 and 836 expressways, Florida’s Turnpike and Interstate 95.

In a similar deal last year, Cushman & Wakefield arranged a series of leases at One Biscayne Tower, a 1,071,726-square-foot, Class A office tower in Miami’s central business district. The property held the record as the tallest building in Miami upon its completion in 1972.

Image courtesy of Cushman & Wakefield