Cosmetics Firm Inks 43,524-SF HQ Lease Renewal At Waterford Atrium

Apr 09, 2019 No Comments by

Cosmetics, perfumes and beauty products distributor Parbel has renewed its 43,624-square-foot corporate headquarters lease at MetLife Real Estate Investors’ Waterford Atrium complex here in a deal that is the largest lease signed in the Airport West district so far this year.

Cushman & Wakefield, which represented the former Helena Rubinstein Inc. in the deal, notes that Parbel had been considering several other opportunities in Miami’s Waterford at Blue Lagoon business park before deciding to renew its space at 6100 Waterford, located at 6100 Blue Lagoon Drive, with building owner MetLife Real Estate Investors. The subsidiary of L’Oreal will now continue to house its headquarters at Waterford Atrium.

Waterford Atrium is a three-building, 495,470-square-foot, Class A office campus located at 6100 Blue Lagoon Drive, 6303 Blue Lagoon Drive (6303 Waterford) and 6505 Blue Lagoon Drive (6505 Waterford) and with the renewal is 92% leased.

Cushman & Wakefield’s Jeannette Mendoza, Brian Gale, Ryan Holtzman, Andrew Trench and Lena Weeks negotiated the lease on behalf of owner MetLife Real Estate Investors. John Marshall and Randy Carballo of JLL represented Parbel in the lease negotiations.

 

“This was a very challenging lease transaction with competition from two other buildings in Waterford at Blue Lagoon, both capable of accommodating Parbel’s requirements,” says C&W’s Mendoza. “After a year of intense negotiations, we were able to retain Parbel as one of the signature tenants in the Waterford Atrium buildings.”

Other notable tenants at the Waterford at Atrium complex include Zimmer Biomet, Regus, Johnson & Johnson, Discovery Channel Latin America and Oracle.

Waterford Atrium’s three buildings were developed between 1991 and 1996 and have won numerous awards, including 25 Building Owners and Managers Association (BOMA) Outstanding Building of the Year awards. 6100 Waterford and 6303 Waterford were recently recognized as BOMA International winners in the Suburban Office Park Low-Rise category.

Waterford Atrium earned the BOMA designations after MetLife Real Estate completed a five-year, $3.5-million capital improvement campaign, which included restroom renovations, new marble lobby floors, ENERGY STAR-rated roof replacements, new LED light fixtures in the atriums and the parking garage, resurfacing of the parking garage deck and a new state-of-the-art fitness center.

 

“MetLife is strongly committed to its tenant relations programs,” says Mendoza. “Their dedication to ensuring a first class, productive work environment for tenants is one of their most important priorities.”

The buildings, which are managed by Cushman & Wakefield, are LEED certified.

The surrounding Waterford at Blue Lagoon business park is a 250-acre master-planned, mixed-use park located directly across the Dolphin Expressway from the Miami International Airport. The park comprises 20 office buildings and more than 2.8 million square feet of development, including four hotels, restaurants, banking facilities, a day care center and a US Post Office branch.

 

Source:  GlobeSt.

 

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