The Real Deal Miami

Developer inks big government lease for Miramar complex

February 08, 2010 12:49PM

Rockefeller Group Development, a New York-based real estate investment
firm, has secured one of the safest, most stable tenants around for its new Miramar mixed-use complex: the federal
government. The group recently signed the General Services
Administration to a 15,000-square-foot lease for the entire fourth floor at its Miramar Town
Center, which broke ground in April 2006 and currently has 77,000 square feet of retail and 45,000 square feet of office space. When completed, it will have 146,000 square feet for retail and restaurants, 50,000 square feet of office space, and 500 residential units. About 70 workers with the U.S. Customs and Border Protection,
a division of the Department of Homeland Security, will be based in
the mixed-use development, which is a joint venture between
Rockefeller and Kimco Realty, another New York developer. “These days, there aren’t a lot of tenants with good credit and the government’s credit, obviously, is reliable,” said Edgar
Jones, vice president and regional development officer with RockGroup
in Miami. Rockefeller also developed a Veterans
Administration clinic this year in Oceanside, Calif., he said. [GlobeSt]