Simply Healthcare Grows to 108 KSF

Cushman & Wakefield inked a lease expansion that pushed occupancy in the 635,000-square-foot office building in the Miami Airport West submarket to nearly 90 percent.
Flagler Corporate Center
Flagler Corporate Center

Cushman & Wakefield brought occupancy at Flagler Corporate Center in the Miami Airport West submarket to nearly 90 percent after negotiating a 24,000-square-foot office lease expansion with Simply Healthcare. The health insurance provider now completely occupies the top floor, totaling 107,714 square feet. This expansion will allow the company to grow from 740 employees to nearly 900.

Multi-tenant asset

Hoffman Properties, an affiliate of Bushburg Properties, acquired the 635,000-square-foot asset in October 2014 for $57.5 million. The six-story property built in 1975 was 62 percent occupied at the time of purchase. Hoffman Properties repositioned the building located at 9250 W. Flagler St., from a single-tenant to a multi-tenant asset. Cushman & Wakefield Managing Director Gordon Messinger negotiated an 83,714-square-foot lease with Simply Healthcare in September 2015, consolidating two Coral Gables offices into a` single corporate headquarters.

The facility was originally designed and built for Florida Power & Light, which still anchors it. Other tenants include Florida International University (FIU) and PCM Inc. Flagler Corporate Center is situated on 26 acres and features a rooftop helipad and a full-service cafeteria.

Image courtesy of Yardi Matrix