{"id":1004740433,"date":"2024-12-13T10:27:43","date_gmt":"2024-12-13T18:27:43","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004740433"},"modified":"2024-12-16T01:07:22","modified_gmt":"2024-12-16T09:07:22","slug":"regus-inks-full-building-lease-in-miami-beach","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/regus-inks-full-building-lease-in-miami-beach\/","title":{"rendered":"Regus Inks Full-Building Lease in Miami Beach"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/429-Lenox-in-Miami-Beach-Fla.png\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004740435\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/429-lenox-in-miami-beach-fla-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/429-Lenox-in-Miami-Beach-Fla-edited.png\" data-orig-size=\"1737,1303\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"429 Lenox in Miami Beach, Fla.\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/429-Lenox-in-Miami-Beach-Fla-edited.png?w=1024\" height=\"768\" width=\"1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/429-Lenox-in-Miami-Beach-Fla-edited.png\" alt=\"Exterior shot of 429 Lenox, a 45,789-square-foot Class A office building in Miami Beach, Fla. \" class=\"wp-image-1004740435\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/429-Lenox-in-Miami-Beach-Fla-edited.png 1737w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/429-Lenox-in-Miami-Beach-Fla-edited.png?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/429-Lenox-in-Miami-Beach-Fla-edited.png?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/429-Lenox-in-Miami-Beach-Fla-edited.png?resize=1024,768 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/429-Lenox-in-Miami-Beach-Fla-edited.png?resize=1536,1152 1536w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><figcaption class=\"wp-element-caption\">Regus has leased the entire 429 Lenox building in Miami Beach, Fla. <em>Image courtesy of Colliers<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Regus has fully leased 429 Lenox, a 45,789-square-foot Class A <a href=\"https:\/\/www.commercialsearch.com\/retail\/us\/fl\/miami-beach\/\" target=\"_blank\" rel=\"noreferrer noopener\">flex office building in Miami Beach, Fla.<\/a> The lease covers more than 10 years, according to the <em>Commercial Observer<\/em>.&nbsp;<\/p>\n\n\n\n<p>Colliers Vice Chair Stephen Rutchik and Vice President Ana Paula worked on behalf of the landlords, Azora Exan, while JLL Executive Vice President Adam Bernstein represented Regus in the transaction.&nbsp;<\/p>\n\n\n\n<p>Azora Exan acquired the property at 429 Lenox Ave. in 2022 from Goddard Investment Group for $37 million, with the help of a 10-year $19 million permanent loan originated by Abanca Corporacion Bancaria, according to CommercialEdge data.\u00a0<\/p>\n\n\n\n<p>WeWork, the building&#8217;s previous tenant, closed its flex office location in May.&nbsp;<\/p>\n\n\n\n<p>Originally designed by Kobi Karp, 429 Lenox was built in 1949 and underwent cosmetic renovations in 2000. The property features a fitness center and a rooftop deck. The five-story office building is divided into three floors of shared workspaces and private offices and two levels of parking. The new coworking location will function under Regus\u2019 SPACES brand.&nbsp;<\/p>\n\n\n\n<p>Located in Miami&#8217;s South Beach neighborhood, the property is just off Florida State Road 907, which connects the office building to downtown Miami, some 6 miles west. Major thoroughfares in the area also include interstates 395, 95 and 195. The flex office is across the street from the Fifth &amp; Alton shopping center, anchored by Target and T.J. Maxx.<\/p>\n\n\n\n<p>Demand for <a href=\"https:\/\/www.commercialsearch.com\/news\/coworking-spaces-evolve-for-post-pandemic-needs-commercialedge\/\">flexible workspaces<\/a> in Miami Beach continues to rise. The office market remains competitive, with an overall vacancy rate of 8.7 percent in the third quarter, and 340,298 square feet of new construction underway.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>WeWork had previously occupied the property. <\/p>\n","protected":false},"author":3619,"featured_media":1004740435,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,52118,1492,21742,32781],"tags":[35498,32796,33655],"class_list":["post-1004740433","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-coworking","category-miami","category-latest","category-southeast","tag-colliers","tag-jll","tag-regus"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Regus Inks Full-Building Lease in Miami Beach - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Regus has signed a 10-year lease for the entire 429 Lenox, a 45,789-square-foot Class A office building in Miami Beach, Fla.\" \/>\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\/regus-inks-full-building-lease-in-miami-beach\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Regus Inks Full-Building Lease in Miami Beach\" \/>\n<meta property=\"og:description\" content=\"Regus has signed a 10-year lease for the entire 429 Lenox, a 45,789-square-foot Class A office building in Miami Beach, Fla.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/regus-inks-full-building-lease-in-miami-beach\/\" \/>\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=\"2024-12-13T18:27:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-16T09:07:22+00:00\" \/>\n<meta name=\"author\" content=\"Maria Maruta\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/429-Lenox-in-Miami-Beach-Fla-edited.png\" \/>\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\/regus-inks-full-building-lease-in-miami-beach\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/regus-inks-full-building-lease-in-miami-beach\/\",\"name\":\"Regus Inks Full-Building Lease in Miami Beach - 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