The Real Deal Miami

SoFla lease roundup: Bloomberg relocates to Brickell City Centre & more

Leases also at Park at Broken Sound and Miami’s Airport North submarket
By Amanda Rabines | November 05, 2018 09:45AM

Bloomberg office at Brickell City Centre (Credit: John Chubb, Bloomberg)

Bloomberg expands and relocates to Brickell City Centre

Media company Bloomberg just expanded and relocated its Miami office to Two Brickell City Centre.

Bloomberg inked a 3,642-square-foot lease at 78 Southwest Seventh Street at Swire Properties’ 4.9 million-square-foot mixed use project. It previously had a 2,600-square-foot office at 1111 Brickell Avenue in the Sabadell Financial Center.

According to a spokesperson, the company doubled its desk count from six to 12. CBRE represented Bloomberg in the lease negotiations.

Brickell City Centre features two mid-rise towers with 260,000 square feet of office space. Tenants include research and consulting firm McKinsey & Co., co-working giant WeWork, Akerman and Swire Properties’ U.S. headquarters.

VAS Aero renews 113,000 sf lease at Park at Broken Sound

VAS Aero is staying in Boca Raton.

The aviation services company just added an additional 10 years to its roughly 113,000-square-foot headquarters lease at 645 Park of Commerce Way.

VAS Aero, formerly The AGES Group and a division of Volvo, was founded in 1979 and has occupied the entire building since 1990.

Cushman & Wakefield’s Christopher Thomson, Richard F. Etner Jr., Chris Metzger and Matthew G. McAllister represented the landlord, DRA Advisors from New York.

The building is within the 700-acre Park at Broken Sound in Northwest Boca Raton. Since it was rezoned in 2015, a number of developers have built or are building new apartment projects.

Univar USA renews 44,100 sf lease in Miami

Univar USA, an industrial and specialty chemical distributor, just renewed it lease at a 64,086-square-foot industrial building at 7120 Northwest 74th Avenue in Miami.

Transwestern’s Ben Eisenberg, Walter Byrd, Thomas Kresse and Carlos Gaviria represented the landlord Terreno Realty Corp. Devin White of CBRE represented Univar.

The company occupies more than two-thirds of the 64,086-square-foot distribution center.

It’s situated in Miami’s Airport North submarket, which remains one of the nation’s tightest industrial markets, with vacancy rates below 5 percent since 2015 and falling as low as 4.1 percent in the past year, according to a recent Transwestern report.