MIAMI-Three
months after buying the 15-year-old, 74,000-sf Miami Lakes
Corporate Center, joint venture owners Aquila Property Co.
Inc. of Coral Springs, FL and Philadelphia-based AMC
Delancey Inc. have brought the class A office property to
95% occupancy from 80% at closing.
Helping raise the occupancy level is a new five-year,
9,686-sf lease aggregately valued at $1.07 million ($22 per
sf) and signed by Pavarini Construction Co. Inc. of
Greenwich, CT. Grace Blanco of Coral Gables, FL-based Abood
& Associates negotiated for the property owner. James
Lloyd of James Lloyd & Associates Inc. represented
Pavarini.
Aquila president Jordan Paul credits Blanco's efforts and
his company's property management division for bringing the
building to full-lease status in 90 days.
"Even with the property at 95% occupancy, we are
still going to be marketing it very aggressively, as we have
another 12,000 sf coming available at the end of the
year," Paul tells GlobeSt.com.
Aquila and AMC Delancey paid an affiliate of Palm Beach,
FL-based Esko Properties $8.4 million or $113.51 per sf for
Miami Lakes Corporate Center in December 2001.
