MIAMI—Airport Corporate Center, a 45-acre, 11-buildingoffice park next to the Miami Airport, has a newowner. A CBRE Global Investors-sponsored fundacquired the 1 million-plus-square-foot office asset from Hines.The property is 78.6% leased. Financial terms of the deal were notdisclosed.


“Miami, which is a top 10 metropolitan office market in terms offorecasted rent growth, has a relatively diverse economy, strongties to fast-growing Latin America, a large port, a well-developedtrade infrastructure and a dynamic magnetism that draws domesticand international tourists,“ Vance Maddocks,president of Strategic Partners US, tells “We plan tocreate an exceptional environment for companies and their employeesin the expanding Miami economy.”


Located at 7200-7665 Corporate Center Drive, Airport CorporateCenter sits next to Miami International Airport and Miami's twomain thoroughfares—the Palmetto Expressway and the DolphinExpressway. A $600 million road construction/widening project isunderway, when finished in late 2014 or early 2015, will improveaccess to the property.


Airport Corporate Center includes both mid-rise and single-storyoffice buildings with structured and surfaceparking. New ownership is planning targeted renovations, includingexterior and interior building and landscaping upgrade. CBRE willalso implement its 5-Star Worldwide service and amenity program,including the addition of conference centers and a fitnesscenter.

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