Thursday, November 15, 2012
NEW BOSTON FUND SECURES LEASES FOR 10,500 SQUARE FEET AT ONE PARK SQUARE
El Aeropuerto signs for 5,000 square feet and Harley Davidson, Latin Recording Academy, NovaTech expand
Miami, Fla. (November 15, 2012) – New Boston Fund, Inc., a private equity real estate investment, development and management firm, announced today that it has leased 5,000 square feet of Class-A office space to Spanish language digital media company El Aeropuerto, LLC at One Park Square in Doral, Fla. The firm also completed three lease expansions for a combined 5,500 square feet to existing tenants Harley Davidson; the Latin Recording Academy, the organization that produces the Latin GRAMMY® Awards; and NovaTech, the international computer distribution firm.
One Park Square is a newly constructed 11-story, 281,623-square-foot Class A+ mixed-use building located adjacent to Miami International Airport in the Airport West submarket. The building features ground-floor retail space and offers some of the highest quality finishes and amenities in the Miami market, as well as panoramic views of Miami and the world-renowned Doral Golf and Country Club.
“We are very pleased with the increased occupancy at this property and the direction that it is moving in,” said Pryse Elam, Southeast Regional Director for New Boston Fund. “The accessible location of One Park Square and the high quality amenities the building offers are truly unrivaled in the Miami Dade market.”
Tenants at One Park Square enjoy amenities, such as 24-hour security, on-site property management, a fitness center, a conference facility, and an integrated covered parking garage. One Park Square is easily accessible from most major Miami-Dade highways, including the Palmetto and Dolphin Expressways.
One Park Square represents the first completed phase of a 51-acre master planned, mixed-use community. Related Group and Shoma Development recently announced a joint venture to begin construction on a mixed-use development that includes plans for restaurants, retail shops, multi-family and single-family residences, as well as a wide selection of hotel amenities on the 48 acres of land surrounding One Park Square.
Miami Dade’s Airport West submarket is the region’s largest suburban office market. The region is home to the corporate headquarters of Carnival Cruises and Univision, and additionally serves as a regional headquarters for Fortune 500 companies and companies doing business in Latin America.
New Boston was represented by Tere Blanca, Danet Linares and Andres del Corral of Blanca Commercial Real Estate. Keith Edelman and Scott Goldstein of Jones Lang LaSalle Americas, Inc. represented Harley-Davidson. The other leases did not involve co-brokers.
New Boston is committed to investing in the southeast region, and since 2010 has acquired more than one million square feet of office space through the purchases of Waterford Centre, Southpoint Executive Center, Maitland Green I and II, and One Park Square in Florida, and Harris Corners and Carolina Place in the Carolinas.
New Boston Fund does not disclose sales or leasing prices.
About New Boston Fund
New Boston is an independent, privately owned real estate investment manager and an industry leader in providing real estate investment, development and management services with a history of strong sponsorship and oversight of its investment funds. New Boston has developed or acquired commercial and residential properties with a cumulative market value of about $4.4 billion, including 23 million square feet of commercial real estate and 7,500 residential units. Our investment vehicles cater to institutional and high-net worth investors by offering value-add and urban real estate investment funds with a focus on diversification and capital preservation. The New Boston Fund: People, Values, Returns. www.newbostonfund.com
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