Blanca Anchors Both Sides of Doral Office Lease

MIAMI—Windhaven Insurance is relocating its corporate headquarters to 8550 NW 33rd Street in Doral. The Florida-based auto insurance provider is leasing 31,524 square feet of space in the four-story office building.

Following its move in the second quarter of this year, Windhaven will occupy more than half of the 59,591 square foot building, with office space on the third and fourth floors. Financial terms of the lease were not disclosed.

Blanca Commercial Real Estate represented both the landlord and the tenant in the lease. Tere Blanca acted as the designated agent for Windhaven Insurance in the transaction. Danet Linares and Andres del Corral were the designated agents for the building's owner. Linares called the deal “a win-win for both Windhaven Insurance and the property's landlord.”

Windhaven will be consolidating its headquarters and relocating to Doral from two nearby office properties in Miami's Airport West submarket. Windhaven's lease at 8550 NW 33rd Street represents a 15,000 square foot expansion for the company, resulting in positive absorption for the Doral market.

Factors driving tenants to the Doral office property include the building's location and proximity to City Place Doral, the new mixed-use urban residential and retail project under construction across the street. The building is also close to Miami's major highways providing easy access to Miami International Airport, the Palmetto Expressway, the Dolphin Expressway, and Florida's Turnpike.

Dozens of high-end hotels and restaurants are also located within the immediate surrounding area. The building's parking ratio is 3.5 to 1,000 square feet leased, with floor plates ranging from 12,322 to 15,762 square feet.

The Windhaven lease follows a surge of tenant representation activity at Blanca during 2013. The firm's members completed 27 transactions totaling nearly 235,000 square feet of office space through December 2013.