MIAMI—Cushman & Wakefield is on a leasing assignment roll. Following a Coral Gables assignment at 901 Pone, a joint venture between Banyan Street Capital and DRA Advisors picked the firm to exclusively represent the 210,000-square-foot office complex once known as Doral Court in Doral, FL.
The joint venture acquired the office complex earlier this month via a bankruptcy proceeding. CushWake director Gordon Messinger will lead the efforts to lease up the two buildings—a 140,000-square-foot, eight-story tower and an attached 70,000-square-foot, three-story building—which sit on 10 acres at 8600 Northwest 36th Street.
“New ownership will be making a tremendous commitment to the future of this asset through its redevelopment efforts,” Messinger tells GlobeSt.com. “It will be incredibly exciting to see their vision of a true live-work-play environment come to fruition in the epicenter of Doral.”
Banyan and DRA plan to reposition the site as a mixed-use development. The initial plan will preserve the eight-story office tower. The new owners have committed to a massive common area update of the tower, including renovated exterior, common area lobbies, corridors and bathrooms.
The joint venture has not announced plans for redevelopment of the rest of the site. Expected uses include retail, residential and/or hotel uses, and structured parking.
The property sits in one of Miami's most sought-after locations, catty-corner to the world-renowned Trump National Doral Miami resort and golf course at the intersection of Doral Boulevard/Northwest 36th Street and NW 87th Avenue.
More than 100,000 vehicles traverse this intersection each day. The site offers 400 feet of frontage on Doral Boulevard and more than 600 feet of frontage on Northwest 87th Avenue.
Bayan and DRA are cozy partners. In 2013, the companies joined forces to buy Pinnacle Corporate Park 1 and II—two class A suburban office buildings totaling 262,434 square feet in Fort Lauderdale, FL—for $38.1 million.
MIAMI—Cushman & Wakefield is on a leasing assignment roll. Following a Coral Gables assignment at 901 Pone, a joint venture between Banyan Street Capital and DRA Advisors picked the firm to exclusively represent the 210,000-square-foot office complex once known as Doral Court in Doral, FL.
The joint venture acquired the office complex earlier this month via a bankruptcy proceeding. CushWake director Gordon Messinger will lead the efforts to lease up the two buildings—a 140,000-square-foot, eight-story tower and an attached 70,000-square-foot, three-story building—which sit on 10 acres at 8600 Northwest 36th Street.
“New ownership will be making a tremendous commitment to the future of this asset through its redevelopment efforts,” Messinger tells GlobeSt.com. “It will be incredibly exciting to see their vision of a true live-work-play environment come to fruition in the epicenter of Doral.”
Banyan and DRA plan to reposition the site as a mixed-use development. The initial plan will preserve the eight-story office tower. The new owners have committed to a massive common area update of the tower, including renovated exterior, common area lobbies, corridors and bathrooms.
The joint venture has not announced plans for redevelopment of the rest of the site. Expected uses include retail, residential and/or hotel uses, and structured parking.
The property sits in one of Miami's most sought-after locations, catty-corner to the world-renowned Trump National Doral Miami resort and golf course at the intersection of Doral Boulevard/Northwest 36th Street and NW 87th Avenue.
More than 100,000 vehicles traverse this intersection each day. The site offers 400 feet of frontage on Doral Boulevard and more than 600 feet of frontage on Northwest 87th Avenue.
Bayan and DRA are cozy partners. In 2013, the companies joined forces to buy Pinnacle Corporate Park 1 and II—two class A suburban office buildings totaling 262,434 square feet in Fort Lauderdale, FL—for $38.1 million.
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