Miramar Park of Commerce Lands 1M Sq Ft Worth of Leases in 2011
- Jan 22, 2012
Miramar Park of Commerce prides itself on over one million square feet of space leased in 2011 with 60 percent of new tenants coming from healthcare related companies. The healthcare and biotech company surge in the Park was led by OPKO Health, Inc. which opened a 17,000 square-foot office and lab in the Park. In Miramar, OPKO will continue its research of molecular diagnostics and use breakthrough technology to develop an innovative approach to various diseases. In addition to OPKO, healthcare companies Dr. Diabetic, WeCare Health Plans, Surpass Medical, CarePoint Partners,
Hero Medical and IMED Health Products all moved to Miramar Park of Commerce in 2011. The surge was bolstered by renewals or expansions of existing tenants Altor BioScience, HCA, Univita, Neoptx, Aveva and Apria Healthcare. Other existing healthcare companies in the Park include GE Healthcare, Quest Diagnostics, Vitas Healthcare, CAPS, a division of BBraun, and Memorial Hospital. The Park had a slightly positive absorption rate, with a vacancy rate that closed out the year at 5 percent.
“In 2011, we were fortunate to retain tenants as well as sign several healthcare and biotech companies, adding to the park’s well established healthcare hub,” said Andrew Ansin, vice president of Sunbeam Properties, developer of the Miramar Park of Commerce. “Companies moving to the Park capitalized on the fact that our rates were among the lowest in the market.”
The largest corporate park in Broward County—with nearly five million square feet of office/service, laboratory, pharmacy, light manufacturing and distribution space—the Miramar Park of Commerce is now home to 10,000 employees from more than 160 national and international companies including American Express, FedEx, Nissan, Toyota, Siemens and many more.