{"id":1004561242,"date":"2021-12-17T08:20:40","date_gmt":"2021-12-17T16:20:40","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004561242"},"modified":"2022-12-07T14:51:52","modified_gmt":"2022-12-07T22:51:52","slug":"bansi-properties-expands-miami-office-campus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bansi-properties-expands-miami-office-campus\/","title":{"rendered":"Bansi Properties Expands Miami Office Campus"},"content":{"rendered":"
\"\"<\/a>

Bansi Office Campus rendering. Image courtesy of Bansi Properties<\/p><\/div>\n

Bansi Properties, the sister company of Chetu, a software development firm, has announced plans to expand its business center in Sunrise, Fla., with a <\/span>140,000-square-foot <\/span>office building. The project site is located within the Sawgrass International Corporate Center, a 612-acre office and industrial campus, some 32 miles north of downtown Miami. The property is slated for completion in 2023.<\/span><\/p>\n

Designed by architecture firm FSMY, the upcoming four-floor project will be developed with Energy Star and LEED certification standards in mind. The location has been planned for multi-tenant use, with the possibility of single-tenant retrofitting.<\/span><\/p>\n

The property will be situated on a 22-acre site that includes a recently acquired <\/span>178,060<\/span>-square-foot office building at <\/span>1500 Concord Terrace<\/span>. Chetu purchased the property in June this year from Mednax for $25 million, according to data from CommercialEdge. The asset now serves as the company\u2019s global headquarters. <\/span>Newmark is in charge of leasing the remaining office suites at the existing location and will handle tenancy at the upcoming building.<\/span><\/p>\n

Located just off US Route 869, the growing Bansi campus is a short distance from Sawgrass Mall, the largest shopping center in the area. The property is also less than 3 miles of the interchange between interstates 595 and 75.<\/span><\/p>\n

Demand pushes construction activity<\/span><\/h2>\n

Once the new development is completed, Bansi\u2019s portfolio will exceed 400,000 square feet of office and residential space in locations around Miami. The portfolio includes a 63,600-square-foot building in Plantation, Fla., serving as <\/span>IRS\u2019 new Broward County office<\/span>.<\/span><\/p>\n

While most U.S. office markets still struggle to return to pre-pandemic levels, Miami continues to grow its inventory<\/a>. As of November, the metro had approximately 3.5 million square feet of office space under construction, a recent CommercialEdge report shows. At the same time, Miami has expanded its office-using workforce by nearly 10 percent over the past 12 months, second only to Austin among larger U.S. metros.<\/span><\/p>\n

The surge in development activity is also supported by improving absorption rates<\/a>. Vacancy stood at 12.5 percent in November, a remarkable 120-basis-point drop in vacancy year-over-year. Over the same period, Miami office rents increased by 5.8 percent, heavily outperforming the 1.2 percent U.S. average. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Completion of the business center is slated for 2023.<\/p>\n","protected":false},"author":1366,"featured_media":1004561245,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,1492,21742,21747],"tags":[51516,50999],"class_list":["post-1004561242","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-miami","category-latest","category-office","tag-bansi-properties","tag-newmark"],"acf":[],"yoast_head":"\nBansi Properties Expands Miami Office Campus - 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\/bansi-properties-expands-miami-office-campus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bansi Properties Expands Miami Office Campus\" \/>\n<meta property=\"og:description\" content=\"Completion of the business center is slated for 2023.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/bansi-properties-expands-miami-office-campus\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-17T16:20:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-07T22:51:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/12\/Bansi-Office-Campus-Rendering.-Image-courtesi-of-Bansi-Properties-e1639749337943.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ioana Muresan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bansi-properties-expands-miami-office-campus\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/bansi-properties-expands-miami-office-campus\/\",\"name\":\"Bansi Properties Expands Miami Office Campus - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bansi-properties-expands-miami-office-campus\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bansi-properties-expands-miami-office-campus\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/12\/Bansi-Office-Campus-Rendering.-Image-courtesi-of-Bansi-Properties-e1639749337943.jpg\",\"datePublished\":\"2021-12-17T16:20:40+00:00\",\"dateModified\":\"2022-12-07T22:51:52+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/03646a053de86ceb3a62b2e43105f49d\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bansi-properties-expands-miami-office-campus\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/bansi-properties-expands-miami-office-campus\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bansi-properties-expands-miami-office-campus\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/12\/Bansi-Office-Campus-Rendering.-Image-courtesi-of-Bansi-Properties-e1639749337943.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/12\/Bansi-Office-Campus-Rendering.-Image-courtesi-of-Bansi-Properties-e1639749337943.jpg\",\"width\":900,\"height\":675,\"caption\":\"Bansi Office Campus rendering. Image courtesy of Bansi Properties\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bansi-properties-expands-miami-office-campus\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bansi Properties Expands Miami Office Campus\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/03646a053de86ceb3a62b2e43105f49d\",\"name\":\"Ioana Muresan\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/72ec6d9e0b7a2f0702332bd7aa5cf68de303b7080bf58da80037e46ada183c39?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/72ec6d9e0b7a2f0702332bd7aa5cf68de303b7080bf58da80037e46ada183c39?s=96&d=mm&r=g\",\"caption\":\"Ioana Muresan\"},\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/ioanamuresan\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Bansi Properties Expands Miami Office Campus - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/bansi-properties-expands-miami-office-campus\/","og_locale":"en_US","og_type":"article","og_title":"Bansi Properties Expands Miami Office Campus","og_description":"Completion of the business center is slated for 2023.","og_url":"https:\/\/www.commercialsearch.com\/news\/bansi-properties-expands-miami-office-campus\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2021-12-17T16:20:40+00:00","article_modified_time":"2022-12-07T22:51:52+00:00","og_image":[{"width":900,"height":675,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/12\/Bansi-Office-Campus-Rendering.-Image-courtesi-of-Bansi-Properties-e1639749337943.jpg","type":"image\/jpeg"}],"author":"Ioana Muresan","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/bansi-properties-expands-miami-office-campus\/","url":"https:\/\/www.commercialsearch.com\/news\/bansi-properties-expands-miami-office-campus\/","name":"Bansi Properties Expands Miami Office Campus - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/bansi-properties-expands-miami-office-campus\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/bansi-properties-expands-miami-office-campus\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/12\/Bansi-Office-Campus-Rendering.-Image-courtesi-of-Bansi-Properties-e1639749337943.jpg","datePublished":"2021-12-17T16:20:40+00:00","dateModified":"2022-12-07T22:51:52+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/03646a053de86ceb3a62b2e43105f49d"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/bansi-properties-expands-miami-office-campus\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/bansi-properties-expands-miami-office-campus\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/bansi-properties-expands-miami-office-campus\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/12\/Bansi-Office-Campus-Rendering.-Image-courtesi-of-Bansi-Properties-e1639749337943.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/12\/Bansi-Office-Campus-Rendering.-Image-courtesi-of-Bansi-Properties-e1639749337943.jpg","width":900,"height":675,"caption":"Bansi Office Campus rendering. Image courtesy of Bansi Properties"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/bansi-properties-expands-miami-office-campus\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Bansi Properties Expands Miami Office Campus"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/03646a053de86ceb3a62b2e43105f49d","name":"Ioana Muresan","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/72ec6d9e0b7a2f0702332bd7aa5cf68de303b7080bf58da80037e46ada183c39?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/72ec6d9e0b7a2f0702332bd7aa5cf68de303b7080bf58da80037e46ada183c39?s=96&d=mm&r=g","caption":"Ioana Muresan"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/ioanamuresan\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/12\/Bansi-Office-Campus-Rendering.-Image-courtesi-of-Bansi-Properties-e1639749337943.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004561242","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/1366"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004561242"}],"version-history":[{"count":5,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004561242\/revisions"}],"predecessor-version":[{"id":1004611329,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004561242\/revisions\/1004611329"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004561245"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004561242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004561242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004561242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}