Doral Costa Office Park Leases 7,000 SF

By Hortense Leon

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Doral Costa

MIAMI- The Doral Costa Office Park, Phase I, a 130,000 square foot class A office building near Miami International Airport in Doral, recently leased 4,968 square feet to Science Applications International Corp., a San Diego-based technology company which is a contractor for the US military.

The building’s proximity to the US Southern Command, which is responsible for all US military activities in South and Central America, was a factor in SAIC’s selection of the Doral Costa Office Park, says Walter Robinson, senior vice president  at Transwestern  in South Florida, who represented the landlord, TA Associates Realty, in the transaction.

“The fact that Southcom is in Miami-Dade County and the US military decided to stay in Doral and build a bigger facility is a positive economic driver for the county,” says Robinson.

SAIC wanted to get into its space quickly, so the landlord only did minimal tenant improvements like installing new carpet and painting, while some other minor improvements to the space will be done later, says Robinson.

Phase I at the Doral Costa Office Park also renewed a lease with SNI Cos. (formerly Staffing Now), a temporary employment agency, which occupies 2,260 square feet at the building.

The class A  Airport West market, which also includes the city of Doral, is 77% occupied, says Robinson. The Doral Costa Office Park has an average occupancy rate in the mid 80s, while the Phase I building is 95% leased, he says.

The Doral Costa Office Park, which was built over 10 years ago, was developed by TA Associates. “Because (the park) is owned by a state pension fund with no debt means the buildings will be well-kept,” says Robinson. Tenants also like the stable ownership, he says. Plus, the location, at  97^th Avenue and 41 Street, where there is a FedEx Office, a number of restaurants, a  Publix supermarket and an LA Fitness outlet, all help to attract tenants, says Robinson.

The asking rental rates at the Doral Costa Office Parks are $19 to $20 per square foot triple net with operating expenses of about $10 per square foot, says Robinson. These rents are average to slightly above average for the area, he says.

Categories: Southeast, Office, Leasing, Miami