In one of the most significant office building transactions of 2014, Hoffman Properties has purchased the 9250 West Flagler Street building, a 634,818 square foot signature property in the Miami Airport West submarket.
The property, which consists of a 6-story suburban hurricane resistant office building, sits on 26 acres of land is just west of Miami International Airport and within close proximity to the main campus of Florida International University.
As part of the revitalization of the building, it is being renamed to Flagler Corporate Center, By Hoffman Properties. Gordon Messinger, Director of Commercial at Cushman & Wakefield’s Brokerage, the world’s largest privately‐held commercial real estate services firm, will be in charge of the leasing and marketing more than 235,000 square feet of space. The building offers an opportunity for large corporate users to operate in a 24/7 secured building with an abundance of parking, 2 week backup generator capabilities, fitness facility, rooftop helipad and on-site café. In addition, the building offers a low-cost electric rate and is fiber optic ready provided by FPL FiberNet, a tenant occupying 400,000 square feet in the building.
“Flagler Corporate Center will be transformed into the premier multi-tenant office destination catering to the largest office requirements in South Florida, including a floor with 100,000 contiguous square feet available,” said Messinger. “The proximity to the Florida Turnpike, Palmetto Expressway and Dolphin Expressway, makes Flagler Corporate Center the ideal building for corporate users seeking a central location in Miami-Dade County.”
“We are pleased to make this investment in South Florida where we see tremendous opportunity to reposition this asset, by upgrading and updating finishes and fixtures in common areas and lobbies and entrance to give it a more visible vibrant and creative feel as a multi-tenant building,” said Joseph Hoffman, manager of the Hoffman family investments and CEO of Bushburg Properties.
Hoffman’s New York-based real estate development firm owns, manages, and has developed more than a half billion dollars in real estate over the past twenty years. The company has successfully rehabilitated and converted more than one million square feet of luxury apartment office and retail space. The company currently owns more than two million square feet of commercial, industrial, and residential real estate, with the majority of its properties located in New York City. The company has been recognized for their commitment to smart growth and adaptive reuse in their real estate development work.