The Real Deal Miami

South Florida lease roundup: Biscayne Bank building fills up entire floor & more

New leases also at the Miramar Park of Commerce and Weston Commerce Park
August 29, 2017 03:20PM

Biscayne Bank building, Weston Commerce Park and Miramar Park of Commerce

Biscayne Bank building leases up an entire floor 

The Ritz-Carlton Yacht Collection just signed a 10-year lease at Biscayne Bank ‘s headquarters in Coconut Grove, according to Coldwell Banker. The luxury brand signed a 10-year lease to occupy an entire floor, which spans nearly 14,400 square feet.

The class A office space is at 2601 South Bayshore Drive. The building was completed in 1989. The Ritz-Carlton Yacht Collection’s lease is set to being in April 2018, according to a release. Office rental rates around Coconut Grove average to about $38 per square foot – meaning the estimated total lease value exceeds $6 million.

Adam Freeman of Coldwell Banker represented the tenant. The office space features high-ceilings and 360-degree views of Coral Gables, Miami’s skyline, the islands of Biscayne Bay, and the Atlantic Ocean.

Miramar Park of Commerce adds 32,013-square-foot lease

The Miramar Park of Commerce, a 5-million-square-foot business park, announced a new lease from HapCor, an international retailer of brands such as Campbells, Pepperidge Farm, Borden Dairy and Badia Spice.

The business inked a 32,013-square-foot lease and will be relocating from its headquarters in Davie, according to Sunbeam Properties & Development. The warehouse space is at 9587 Premier Parkway in the Miramar Park of Commerce.

HapCor was represented by Carlos Velasquez of Vivo Real Estate Group and Tom Viscount of Butters Realty and the Miramar Park of Commerce was represented by Maridee Bell and Lauren Pace of Sunbeam Properties & Development.

The Miramar Park of Commerce has about 180 tenants and 5.2 million square feet of warehouse and office space.

Weston Commerce Park adds a 67,200-square-foot lease

Weston Commerce Park, a 134,400-square-foot distribution building in Weston, just announced VPX Sports will soon be a new tenant. The Weston-based health supplement manufacturer inked a 67,200-square-foot lease, according to Cushman & Wakefield.

VPX Sports will use the warehouse at 1951 North Commerce Parkway for distribution. Its headquarters is just one mile north of the West Commerce Park. The company, which sells its products internationally through retail sites and E-commerce operations, plans to move in this quarter, according to the release.

The distribution center features 30-foot heights, dock-high loading, drive-in doors, 40-foot by 40-foot column spacing and a 118-foot truck court.

Cushman & Wakefield’s Chris Metzger, Richard F. Etner Jr., Christopher Thomson and Matthew G. McAllister represented Mississippi-based owner EastGroup Properties. VPX Sports was represented by JLL.

Records show EastGroup Properties bought the site last year for $14.3 million. — Amanda Rabines