Friday, July 19, 2013
NEW BOSTON FUND SECURES NEW 16,371-SQUARE-FOOT LEASE AT WATERFORD CENTRE
Whirlpool leases Class-A office space in Miami, Fla.
MIAMI – (July 19, 2013) - New Boston Fund, Inc., a private equity real estate investment, development and management firm, announced today that it has leased 16,371 square feet to Whirlpool at Waterford Centre in Miami, Fla.
Waterford Centre is a six-story, 91,285-square-foot, Class-A office building located in the Blue Lagoon Business Park at 6205 Blue Lagoon Drive off the Dolphin Expressway. Whirlpool joins other notable tenants, including Travel Traders and Xerox, bringing the building’s occupancy to 93 percent.
Built in 1999, Waterford Centre fronts the Dolphin Expressway, immediately across from the Miami International Airport. The building offers excellent access and visibility to the Expressway and tremendous views of the airport. The building also features a five-per-thousand parking ratio, which ranks highest amongst its competitors.
“We are extremely pleased with the increased occupancy at Waterford Centre,” said Jon Gillman, Senior Vice President of Asset Management at New Boston Fund. “The property offers tenants an excellent location and top amenities that make Waterford highly competitive in the Miami market.”
Waterford Centre features state-of-the-art security systems, including card readers, video cameras, visitor tele-entry devices, on-site security guard service, and reserved/covered parking. The building’s interior boasts granite, marble and wood finishes in addition to excellent lake views and storage space.
Since acquiring Waterford Centre in 2012, New Boston has upgraded the lobby furniture and artwork, redesigned the landscaping at the entryway, and completed work on the parking deck.
Tere Blanca, President and CEO of Blanca Commercial Real Estate, represented New Boston in this transaction, and Jorge Morales, Vice President of Leasing at Jones Lang LaSalle, represented Whirlpool. Whirlpool is slated to move in to its new regional office in the second half of 2013.
Since 2010, New Boston has acquired more than one million square feet of prime office space in the Southeast 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.
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 $3.5 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
For all news or media inquiries, please contact:
Solomon McCown & Company