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MIAMI-Vista Healthplan Inc. has found a way to capitalize on the tough commercial real estate market twice. The benefit plan provider has signed renewals for 43,000 square feet of office space at two separate locations in South Florida, working with Transwestern.

The Coventry Health Care Inc. subsidiary signed a five-year renewal for 18,568 square feet at Lennar Corporate Center, 760 NW 107th Ave. in Miami, as well as a one-year renewal for 24,500 square feet at 300 South Park Road in Hollywood. Rashid Siahpoosh, a Transwestern vice president in Miami who negotiated both renewals, says the tenant was able to leverage favorable lease terms but could not go into further specifics.

“It’s a perfect time for tenants who are able to make decisions,” Siahpoosh tells GlobeSt.com. Market knowledge by way of tenant representation makes a huge difference in negotiating short- or long-term renewals, he says.

Vista Healthplan, based in Sunrise, was able to increase efficiencies in its renewal at Lennar, while its one-year Hollywood lease is intended to buy the company more time to make decisions on its business there, Siahpoosh says. He notes the importance of tenants to align their own corporate goals with the current real estate market. “This is not a time where one shoe fits all,” he says.

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