Hogan Completes 10,000 SF Of Lease Expansions At Waterford

The Hogan Group has signed 10,000 square feet of new Class-A office space in lease expansions in a continuing trend of tenant growth in the Waterford At Blue Lagoon corporate park near Miami International Airport.
Recent expansions include almost 4,000 square feet for Sunbeam Products, which brings the company’s total lease to more than 21,000 of office space in the 5200 Waterford building; and 2,500 additional square feet for Airbus, for a total of more than 11,600 square feet at 5201 Waterford.   Havas North America and MoneyGram Payment Systems both at 5201 Waterford expanded by approximately 2,000 square feet each, bringing their total leases to about 12,000 and 7,000 square feet, respectively.
Hogan represents Waterford’s owner, New York-based financial services firm TIAA-CREF, the leading provider of retirement services in the academic, research, medical and cultural fields, in all transactions for the property.
“These newest expansions are part of an ongoing trend,” said Stephen Smith, Vice President of The Hogan Group.  “We are seeing expansions on the rise over the past six months, as tenants steadily grow their businesses due to a stabilizing economy.”
The new expansions put the six properties in the Waterford At Blue Lagoon portfolio at 95 percent leased.
The Hogan Group completed $1.3 million in capital improvements this past January, which included major lobby enhancements to 5200 and 5301 Waterford, and the addition of a fitness center in 703 Waterford. Work also included renovations to restrooms and common areas and the replacement of a cooling tower at 5200 Waterford.