Developers break ground on new Blue Lagoon office tower

The owners of Miami’s Waterford at Blue Lagoon corporate park just broke ground on a new 10-story office building.

Dubbed 800 Waterford Tower, the 250,000-square-foot offices are being built speculatively by owners TIAA-CREF and Allianz Real Estate of America. It’s the first new building to go up in the 250-acre park in seven years, according to a news release about the groundbreaking.

The developers expect 800 Waterford to open mid-year 2016. It will join the park’s six other office buildings, all located directly south of the Miami International Airport.

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Financial giant TIAA-CREF, which provides retirement plans for academics, has owned the office park since the 1980s. Last year, the firm partnered up with Allianz, which paid $375 million to buy a 49 percent stake in the complex.

Leasing efforts will be handled by the Hogan Group, which markets and manages the Waterford at Blue Lagoon on behalf of Allianz and TIAA-CREF.

Earlier this year, the partners also announced they plan to build Burger King a new corporate headquarters in the park. The fast food chain would be downsizing from its current 200,000-square-foot digs next door to a custom-built 150,000-square-foot office building. — Sean Stewart-Muniz

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Developers break ground on new Blue Lagoon office tower

The owners of Miami’s Waterford at Blue Lagoon corporate park just broke ground on a new 10-story office building.

Dubbed 800 Waterford Tower, the 250,000-square-foot offices are being built speculatively by owners TIAA-CREF and Allianz Real Estate of America. It’s the first new building to go up in the 250-acre park in seven years, according to a news release about the groundbreaking.

The developers expect 800 Waterford to open mid-year 2016. It will join the park’s six other office buildings, all located directly south of the Miami International Airport.

Sign Up for the undefined Newsletter

By signing up, you agree to TheRealDeal Terms of Use and acknowledge the data practices in our Privacy Policy.

Financial giant TIAA-CREF, which provides retirement plans for academics, has owned the office park since the 1980s. Last year, the firm partnered up with Allianz, which paid $375 million to buy a 49 percent stake in the complex.

Leasing efforts will be handled by the Hogan Group, which markets and manages the Waterford at Blue Lagoon on behalf of Allianz and TIAA-CREF.

Earlier this year, the partners also announced they plan to build Burger King a new corporate headquarters in the park. The fast food chain would be downsizing from its current 200,000-square-foot digs next door to a custom-built 150,000-square-foot office building. — Sean Stewart-Muniz

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