"MIAMI—Datran Center inked the largest transaction in Miami-Dade County in 2011—a 72,000-square-foot lease to Preferred Care Partners. Now, the tenant is readying to construct a 20,000-square-foot expansion in August.
Owned by USAA Real Estate Co., Datran Center displayed its creativity in attracting and retaining Preferred Care Partners. Datran is even giving up its prominent signage to the tenant, which is seen by more than 54,000 cars a day from South Dixie Highway. Passersby will now see Preferred Care Partners’ name on the sign.
“Since acquiring Datran Center approximately four years ago, USAA evaluated and established a capital improvement strategy to include renovation projects as well as the addition of new tenant amenities in order to meet existing tenant needs and establish a competitive advantage to attract new tenants,” Trey Guajardo, executive director of Office Portfolio management for USAA, tells GlobeSt.com.
Datran Center is a two-tower office complex with more than 490,000 total rentable square feet. Located across from the Dadeland Mall, at 9100 and 9130 South Dadeland Blvd., the Datran Center complex is directly connected to the 24-story, 300-room Miami Marriott Dadeland hotel at the north and the South Dadeland Station of the Metrorail Rapid Transit System to the south.
Recent enhancements include renovations to 50% of the upper multi-tenant floor common area lobbies and restrooms, and the addition of W-Fi availability in the first floor lobby. The newest renovation will begin next month for a new, expanded conference center.
"We completed an exhaustive search of the Greater Miami area, and explored several viable alternatives in nearby markets," Jay Caplin, managing principal at Steelbridge Capital, tells GlobeSt.com. "Some were very attractive. However, the driving factors in Preferred Care’s decision to stay at Datran revolved around having a stable landlord that was reinvesting in the property and amenities on behalf of the tenant, as well as building signage and a compelling overall economic package. It was a win-win for all parties."
The expansion allows Preferred Care Partners to implement an aggressive growth strategy and bring 200 to 250 new jobs to the market over the next 12 to 18 months. UnitedHealthcare purchased the Miami-based health care coverage provider in the first quarter 2012 but will continue to operate under its own brand.
“What seems to be winning the business this year is strong landlords that are thinking out of the box creatively,” Diana Parker, a senior vice president at CBRE, tells GlobeSt.com. “Larger tenants like Preferred Care are looking to landlords to partner with them because real estate is such a significant cost for them in achieving their strategic goals and improve their bottom line.”
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