Assurant, an insurance company, has signed a 78,000-square-foot lease in Miami’s Waterford Business District. The company will be occupying three suites within a 10-story building at 701 Waterford Way, which is meant for 1,500 employees. Blanca Commercial Real Estate, representing landlords Nuveen Real Estate and Allianz’s PIMCO Prime Real Estate, confirmed the lease agreement.
The new location for Assurant is situated just south of Miami International Airport and spans 250 acres with 1.65 million square feet of office space. This deal is the second-largest office lease in Miami this year, following MSC Group’s 130,000-square-foot lease at Block 55 at Sawyer’s Walk in Overtown.
After trying to sell their current property since last year, the sale fell apart when appraisers valued the price 30 percent above market value. Brokers representing Nuveen and PIMCO included Juan Ruiz, Andres del Corral, Jack Davidson, Jessy Aguila, and Tere Blanca from Blanca. While CBRE’s Brent Woodruff, Matthew Goodman, and Tyler Wyant represented Assurant, they declined to comment on the lease agreement. For inquiries, Julia Echikson can be reached at jechikson@commercialobserver.com.