Miramar Park of Commerce Flex-Office Leasing Activity Remains Resilient Despite Pandemic
Despite predictions that the flex-office real estate sector would be hard-hit by the pandemic, Miramar Park of Commerce, the largest locally owned and managed business park in South Florida, continues to close significant flex-office deals as businesses navigate the pandemic, valuing the benefits of flexible and cost-effective space solutions now more than ever.
“We are very optimistic about the flex-office market in 2021, having seen little downturn during the COVID-19 pandemic,” said Sunbeam Properties Vice President Maridee Bell, who along with Ryan Goggins, VP of Acquisitions, Leasing and Marketing and Jonathan Kingsley of Colliers International of Florida, LLC, represents the Park in all flex-office transactions. “As businesses struggle to determine where and how to work, flex-office provides an agile alternative to traditional office leases. We are seeing companies that want to have keep some office space in their plans. Miramar Park of Commerce offers a personalized approach to meet those specific needs of our tenants, configuring flex-office space cost-effectively, efficiently and safely.”
Several substantial leases have been renewed recently at the Miramar Park of Commerce as companies seek to lock down flex-office space. Among the companies accounting for the more than 250,000 sq. ft. of leased space is:
Memorial Healthcare System, one of the largest public healthcare systems in the U.S. and a national leader in quality care and patient, physician and employee satisfaction, renewed a lease for 44,832 sq. ft. of IT office and conference space in MPC-24A at 2051 North Commerce Parkway, expanding its already significant presence in the Park. Bob Banks of R.W. Banks Real Estate represented Memorial Healthcare System in the transaction.
First State Bank of the Florida Keys signed a lease for 13,936 sq. ft. of general office space in MPC-7A at 3740 Executive Way for its Disaster Recovery Operations Center. First State Bank operates 11 branch banking offices in Monroe County from Key West to Key Largo.
Wireless Maritime Services (WMS), a world leader in maritime communications, providing cellular and Wi-Fi services to the cruise, ferry and shipping markets, renewed its lease for 13,468 sq. ft. in MPC 14-A at 3088 N. Commerce Parkway. Rick Widerman of Jones Lang LaSalle represented WMS in the transaction.
“The pandemic has presented a unique opportunity for flex-space real estate and a tremendous opportunity for companies that are looking for innovative space options,” added Bell. “As businesses continue to leave populated city centers, flex-space offers the possibility of safer and less dense working environments at an attractive price point. It’s a wining scenario, especially in our current global climate.”
About Miramar Park of Commerce
Since breaking ground in 1984, Sunbeam has developed the Miramar Park of Commerce into the largest locally owned and managed Business Park in South Florida, with over five million square feet of office/service, laboratory, pharmacy, light manufacturing and distribution space. The world class Park is home to more than 10,000 employees from more than 180 national and international companies including GE, Siemens, Spirit Airlines, Tommy Hilfiger, Neiman Marcus, Humana, Quest Diagnostics, Toyota, Vitas Healthcare, Stanley Black & Decker, Pepperidge Farm, HEICO Corporation and Nissan. Flex/office space, corporate build-to-suits as well as a limited number of second-generation spaces are available in the Park. For more information, contact Ryan Goggins ([email protected]) or Maridee Bell ([email protected]) at 10212 USA Today Way, Miramar, FL 33025 or call 954-450-7900