Media Company Relocating to Former US Southern Command HQ at Westpointe Business Park
The Miami Herald Media Company has agreed to terms to relocate to a 158,265-square-foot
office building in Doral, FL. The building, at 3511 NW 91st Ave. in Miami, will be renamed One Herald Plaza at Westpointe Business Park. The company has also acquired an adjacent six-acre pad site to house its 119,000-square-foot production building.
CoStar first brought you coverage of the sale of Miami Herald's former waterfront office location to Genting last year, which included a leaseback deal with two years of free rent while the company found a suitable relocation site.
Read the full story here. The Miami Herald will remain in place at its current home in downtown Miami through May 2013.
The company's new headquarters location was built in 1997 on 30 acres in the Miami Airport submarket of Miami/Dade County. The building was home to U.S. Southern Command and is one of the most secure buildings in Florida with a limited-access gated lot with abundant parking, high-impact bullet-proof glass, backup generators with an uninterrupted power supply system, and other construction features.
Tere Blanca, president and CEO of Blanca
Commercial Real Estate, with vice chairman Hank Klein and executive vice presidents Danet Linares and David Valdez, represented the Miami Herald. Included in the tenant's team were Jose Hevia of Aligned Properties providing strategic counsel on construction and development, and Jose Juncadella of Fairchild Partners advising on the industrial market. David Steinfeld, senior associate at CBRE represented Westpointe Business Park owner GPA-I LP.
"After surveying the market and determining the factors of greatest importance to the Miami Herald Media Company, it soon became clear that Westpointe Business Park offered the perfect mix of functionality, flexibility and access," said Blanca Commercial Real Estate President and CEO Tere Blanca. "The project’s setting in the fast-growing Doral business district and close proximity to South Florida’s major expressways will enable the Miami Herald Media Company to continue to advance its mission as South Florida’s largest news source."
The city of Doral is a corporate and business hub with more than 9,000 businesses and several Fortune 500 companies. A commercial population grows the city to 150,000 employees daily with a residential population that has doubled to 45,000 since 2000. The park offers access to ample housing, Miami International Airport, the Florida Turnpike and the Palmetto and Dolphin Expressways.