CBRE Arranges 50,000 SF of New Office Leases at Doral Center

CBRE has facilitated seven new office leases totaling nearly 50,000 square feet at Doral Center in Doral, Fla.

Throughout Q3 2022, the following tenants have signed new office leases: the State of Florida Department of Revenue (28,610 square feet), Mercury Air Cargo (5,429 square feet), Waypoint Contracting (3,841 square feet), Silver Bullet Technologies (3,688 square feet), Just Insurance Brokers (3,530 square feet), Ware Malcomb (3,221 square feet), and Sunlight Foods (1,353 square feet).

CBRE Executive Vice President Gordon Messinger represented the landlord, Banyan Street Capital, a Miami-based investor in premier office assets, in all lease negotiations.

Doral Center is a 290,000-square-foot Class A office complex located at the corner of Northwest 36th Street and Northwest 87th Avenue. Banyan alongside its joint venture partner, Independencia Asset Management, acquired the property in 2020 and began a $14 million capital improvement plan, including extensive upgrades to the building facades and landscaping, updated corridors and restrooms, expanded outdoor areas, a ground-up, four-story parking deck, new signage and enhanced programming. Banyan is also adding over 24,600 square feet of move-in ready spec suites to the development’s One Doral Center to meet the increased demand for plug-and-play space and turnkey ready spaces amid the pandemic.

“Banyan’s vision to reposition Doral Center has led us to continued leasing success. The renovations completed have resonated with companies looking to provide a better in-office experience for their employees,” said CBRE’s Messinger.

In addition to the new leases, CBRE has facilitated a renewal for Arthrex (2,266 square feet), a renewal for Florida Property & Casualty (1,260 square feet), and an expansion for Atlas Real Estate Group (1,685 square feet).

Messinger added, “The activity at Doral Center illustrates the strong fundamentals in Miami’s Airport-West submarket. It also showcases that the market is not only fueled by new-to-market tenants, but also relocations within the market as companies look for updated office spaces with more amenities.”

Doral Center is surrounded by an exceptional amenity base, including a world-class golf resort and premier mixed-use projects like the new 152,000-square-foot Doral Square. The property’s central location provides tenants with superior access to Miami International Airport and great connectivity to the Palmetto Expressway, Dolphin Expressway and Florida Turnpike.


About Banyan Street Capital:
Banyan Street Capital is a premier owner and operator of office buildings in the eastern United States. As a full-service, vertically integrated real estate investment firm, Banyan Street Capital always seeks to add value and deliver high risk-adjusted returns to its investors. With its headquarters in Miami, Florida, and regional offices in New York, Atlanta and Jacksonville, Florida, as of June 30, 2022, Banyan Street Capital owned and managed a portfolio of approximately 13 million square feet, with an estimated value of over $4 billion. To learn more, visit www.banyanstreet.com.


About Independencia:
Independencia Asset Management LLC (“IAM”) is a real estate asset management firm headquartered in Miami with an additional office in Boston. Since incorporating in US in 2004, IAM has invested in more than 18 million square feet of core-plus and value-add office, retail and industrial assets in 23 states with ten different local operating partners. To date, IAM has invested in over $4B worth of real estate assets through 50+ different SPEs. IAM’s current portfolio consists of approximately $2.0B of assets under management through 29 different SPEs.