Managing Director Gordon Messinger’s Long-Term Lease Agreement with Subway Latin America & Caribbean Brings Doral Concourse’s Occupancy to 97 Percent
MIAMI, June 21, 2017 — Cushman & Wakefield announced today that it has negotiated a 21,111-square-foot relocation lease with Subway Latin America & Caribbean at Doral Concourse.
Managing Director Gordon Messinger, representing building owner DRA Advisors, LLC, secured a long-term lease with Subway in the Class A office building located at 8400 Doral Boulevard. Liza Hogan of Compass represented the tenant.
Subway Latin America & Caribbean oversees franchises of the Subway restaurant chain throughout Latin America and the Caribbean. The company will relocate from Airport Financial Center at 700 South Royal Poinciana Boulevard in Miami. Subway Latin America & Caribbean will move 65 employees into space on the second and fifth floors of Doral Concourse in the fourth quarter of 2017 before ramping up its headcount to 100.
Subway Latin America & Caribbean’s lease follows the relocation of OnBoard Media’s headquarters to Doral Concourse in March and Wells Fargo Home Mortgage’s recent 3,800-square-foot renewal in the building.
“Credit-worthy tenants continue pushing west into the Doral market, and Doral Concourse has been the most popular landing spot,” said Messinger. “Recent common area renovations at the building, its market-leading parking ratio, walkability to the new CityPlace Doral and its central location within Miami-Dade County has made Doral Concourse the premier office building in the Miami Airport West market.”
Messinger was named exclusive leasing agent for Doral Concourse in late 2014. Since, he has pushed occupancy from 80 to 97 percent in the building.
Doral Concourse is a six-story, 240,950-square-foot office building housing notable tenants such as Starboard Cruise Services, Marriott International, General Mills, Greenberg Traurig, LLP and Infinity Insurance. Ownership recently completed a capital improvement program consisting of renovations to the ground-floor lobby and upper-floor common areas.
Doral Concourse offers premium finishes, a structured parking garage with the highest parking ratio in the submarket (5.0 spaces per 1,000 square feet), fiber-optic service and monument signage with frontage on Northwest 36th Street/Doral Boulevard. The building is located in the heart of Doral, just minutes from Miami International Airport and downtown Miami. It offers excellent access to Palmetto Expressway, Dolphin Expressway and Florida’s Turnpike. Doral Concourse is located near Trump National Doral Golf Resort & Spa and is surrounded by an excellent amenity base, which includes the recently completed CityPlace Doral.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 45,000 employees in more than 70 countries help occupiers and investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients’ ideas and putting them into action. To learn more, visit www.cushwakecentennial.com, www.cushmanwakefield.com or follow @CushWake on Twitter.
About DRA Advisors LLC
DRA Advisors LLC is an investment advisor specializing in real estate investment and management services for institutional and private investors. DRA has over $10 billion in assets under management. Since 1986, DRA’s focus has been consistent: conservative, value-added real estate investments in the office, retail, multi-family and industrial sectors in the United States. DRA’s acquisitions since inception include 1,200 properties valued at over $23 billion.