Developers break ground on new Blue Lagoon office tower

Offices will join six other buildings in 250-acre park

Feb.February 12, 2016 03:45 PM

A rendering of the 800 Waterford Tower office building

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.

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

Related Articles


SoFla lease roundup: Bone marrow nonprofit moves HQ to Park at Broken Sound & more

SoFla lease roundup: Ross Furniture Logistics moves to Hialeah & more

TA Realty sells Waterford at Blue Lagoon building to NY firm for $11M

TIAA-CREF buys Coconut Creek apartment complex for $45.3M

Construction continues at Waterford development after workers injured in accident

Owner gets LEED label for 3 Miami office buildings

TIAA, Allianz nab $62M in construction financing for two Miami office projects

Ivy Realty snaps up five buildings in Miami airport business park: $68M