CREC Lands Miami Office Assignment
- Sep 24, 2018
Renaissance Properties has selected CREC to lease Aventura Corporate Center, a 252,244-square-foot Class A office asset near Miami. Steven Hurwitz and Douglas Okun will lead the leasing team. Cushman & Wakefield previously had the leasing assignment for the three-building campus.
Renaissance acquired the asset in May 2016 for $105.3 million from Groupe Pacific, according to Yardi Matrix. Renaissance Properties invested upwards of $5 million in renovation work since the firm acquired the campus.
Located at 20801, 20803 and 20807 Biscayne Blvd. in the Miami suburb of Aventura, the five- and six-story buildings are situated on 10.5 acres, 1.5 miles from Interstate 95. The Aventura Hospital & Medical Center and the 2.8 million-square-foot Aventura Mall are a short distance away. The area is connected to the rest of the Miami area via a nearby bus stop.
Aventura Corporate Center has a vacancy rate of 14.8 percent. The buildings’ major tenants include Morgan Stanley, Memorial Healthcare System, Coconut Grove Bank, Regus and Serendipity Labs.
Image courtesy of Renaissance Properties