New 250,000 SF Class-A Office Tower Breaks Ground At Waterford At Blue Lagoon

A new 10-story Class A office tower in the Waterford At Blue Lagoon corporate park near Miami International Airport has broken ground, due to be completed in mid-2017.
The 250,000 square foot speculative office building, 800 Waterford, will join a portfolio of six other buildings and 1.4 million square feet of Class A space exclusively leased and managed by The Hogan Group for owners TIAA-CREF and Allianz Real Estate of America. The complex sits on 250 acres of land which TIAA-CREF purchased in multiple transactions in the late 1980’s with a vision to develop a sophisticated and expansive office park.
Allianz entered a joint venture with TIAA-CREF in 2015 upon purchase of a 49 percent stake in the Waterford complex.
 

“The new property at 800 Waterford will be the park’s first office development in seven years and will meet the demand for class-A space in a highly desirable location,” said Brad Simpkins, Senior Director, TIAA-CREF Global Real Estate. “It’s an exciting new offering for the south Florida and international business community.”

 

“This new tower is a major addition to Airport West and the South Florida commercial real estate picture,” said Stephen Smith, vice president of The Hogan Group. “Building a property ‘on spec’ indicates the strength of the park and overall local market.” The existing buildings are currently 97 percent leased, according to Hogan.

The park is home to numerous regional headquarters of multinational corporations and other major companies such as Airbus, Caterpillar, FedEx, Sony, Estee Lauder, Baxter Healthcare and more. The corporate park is adjacent to MIA and State Road 836, with numerous lakes, lush landscaping, world-class hotels and other amenities.
 

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