{"id":1004051823,"date":"2012-05-04T06:25:01","date_gmt":"2012-05-04T14:25:01","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=46465"},"modified":"2020-04-07T11:52:18","modified_gmt":"2020-04-07T19:52:18","slug":"lennar-renews-and-expands-global-hq-at-corporate-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lennar-renews-and-expands-global-hq-at-corporate-center\/","title":{"rendered":"Lennar Renews and Expands Global HQ at Corporate Center"},"content":{"rendered":"<p style=\"text-align: justify\"><em>By Georgiana Mihaila, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify\">The Miami Airport West submarket has not been too kind to Class B office properties\u2014as the current vacancy rate of 24 percent shows. Yet the Lennar Corporate Center has successfully managed to stand out, even more so after the recent lease renewal and expansion of its anchor tenant\u2014Lennar Corporation.<\/p>\n<p style=\"text-align: justify\">Lennar Corporation, along with its subsidiary, Rialto, has renewed its lease at Lennar Corporate Center office park and expanded it to 120,000 square feet. The long-term lease, which includes office space at 700, 730 and 790 NW 107 Avenue, is among the largest office leases signed in South Florida over the past year. With this renewal and expansion, Lennar boosted its occupancy by approximately 30,000 square feet, edging the Corporate Center\u2019s current occupancy rate to 93 percent.<\/p>\n<p style=\"text-align: justify\">\u201cAs one of Miami-Dade county\u2019s largest office users, Lennar Corporation had an opportunity to relocate its global headquarters to any number of properties, instead choosing to expand at Lennar Corporate Center,\u201d said CREC Vice President Douglas Okun. \u201cLennar\u2019s decision to remain in place and take more space is a big boost for the asset and a strong sign that office space in the Airport West submarket is in high demand among premium tenants.\u201d<\/p>\n<p style=\"text-align: justify\">Located at the intersection of 107<sup>th<\/sup> Avenue and the 836 Expressway, the 285,000-square-foot Lennar Corporate Center offers direct access to Miami\u2019s major thoroughfares, the region\u2019s growing residential communities and Miami International Airport. Offering gated<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/05\/Lennar-Corp-Center.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-46471\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/05\/Lennar-Corp-Center.jpg\" alt=\"\" width=\"300\" height=\"162\" \/><\/a> security, an on-site fitness center and caf\u00e9, free parking for tenants and renovated lobbies and elevators, Lennar Corporate Center\u2019s office rates range from $23 to $26 per square foot. Current tenants include General Electric, Komatsu, Maersk and Liberty Mutual Insurance, among others.<\/p>\n<p style=\"text-align: justify\">CREC Principal David Moret and Vice President Douglas Okun represented landlord Colony Realty Partners in the transaction. Patrick M. Duffy and Jon Bourbeau of Newmark Knight Frank represented Lennar Corporation and Rialto.<\/p>\n<p style=\"text-align: justify\"><em>Photo Credits: Schwartz Media Strategies<\/em><\/p>\n<p style=\"text-align: justify\">For more news from Miami,\u00a0<a href=\"https:\/\/www.multihousingnews.com\/news\/market-snapshot-new-construction-expected-in-miami-as-vacancies-fall-and-employment-prospects-loom\/1004052721.html\" target=\"_blank\" rel=\"nofollow\">click here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Miami Airport West submarket has not been too kind to Class B office properties\u2014as the current vacancy rate of 24 percent shows. Yet the Lennar Corporate Center has successfully managed to stand out, even more so after the recent lease renewal and expansion of its anchor tenant\u2014Lennar Corporation.<\/p>\n","protected":false},"author":1269,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1492,21742],"tags":[],"class_list":["post-1004051823","post","type-post","status-publish","format-standard","hentry","category-miami","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Lennar Renews and Expands Global HQ at Corporate Center - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/lennar-renews-and-expands-global-hq-at-corporate-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lennar Renews and Expands Global HQ at Corporate Center\" \/>\n<meta property=\"og:description\" content=\"The Miami Airport West submarket has not been too kind to Class B office properties\u2014as the current vacancy rate of 24 percent shows. 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