Helping raise the occupancy level is a new five-year, 9,686-sf lease aggregately valued at $1.07 million ($22 per sf) and signed by Pavarini Construction Co. Inc. of Greenwich, CT. Grace Blanco of Coral Gables, FL-based Abood & Associates negotiated for the property owner. James Lloyd of James Lloyd & Associates Inc. represented Pavarini.
Aquila president Jordan Paul credits Blanco's efforts and his company's property management division for bringing the building to full-lease status in 90 days.
"Even with the property at 95% occupancy, we are still going to be marketing it very aggressively, as we have another 12,000 sf coming available at the end of the year," Paul tells GlobeSt.com.
Aquila and AMC Delancey paid an affiliate of Palm Beach, FL-based Esko Properties $8.4 million or $113.51 per sf for Miami Lakes Corporate Center in December 2001.
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