The Real Deal Miami

AmEx’s departure makes way for new tenant in Weston

Altegra Health will lease 52K sf in the Weston Park of Commerce
May 18, 2015 01:00PM

The commercial building at 1725 North Commerce Parkway

The commercial building at 1725 North Commerce Parkway

After residing in the Weston Park of Commerce for the last 10 years, American Express is leaving its offices behind and a tech company is moving in.

Altegra Health, a tech company that provides payment solutions for services like health plans, signed a lease for the park’s last large chunk of continuous space, measuring 52,960 square feet.

The group is vacating its old office in Miami Lakes in favor of the new location at 1725 North Commerce Parkway.

TA Realty, the owner of the office park since 2006, was represented in the deal by Avison Young principal Greg Martin. Altegra was represented by Tony Jones of Cushman & Wakefield.

“Once it was clear that American Express would be vacating the building, ownership engaged Avison Young to begin seeking a replacement tenant,” said Martin. “We were able to fulfill the goal of securing a single tenant to occupy the asset, in part due to the building’s above-market parking ratio, in advance of the property’s vacancy.”

TA Realty is a frequent trader of commercial properties, and has owned several office parks in South Florida. — Sean Stewart-Muniz