Quest Workspaces to Open Second Doral Location
By Julia Echikson December 13, 2022 2:39 pm
reprints
Quest Workspaces is opening another location in Doral, Fla.
The coworking operator signed a 23,454-square-foot lease for the entire seventh floor at Two Doral Center.
The new space is expected to open in the summer of 2023 and marks the company’s 10th location in South Florida. Other Quest outposts include two in Brickell, one in Downtown Miami, and another in West Palm Beach.
The new site at Two Doral Center will be Quest’s second location in Doral, and is less than a mile from its first spot.
“We had identified Doral as an area that could sustain another space, and the space was available. So we worked quickly to solidify a deal with the landlord,” said Lance Benson of Newmark, who represented the tenant.
The latest lease in Doral is over 10 years long, and the asking rent stood at $38 a square foot, full service. The building, which is half of the Doral Center office complex, sits between Northwest 36th Street and Northwest 87th Avenue, just south of former President Trump’s Doral resort.
Landlords Banyan, a Miami-based investor, and Independencia Asset Management acquired the center for $43 million in 2020 — nearly $6 million less than the property’s previous sales price.
The complex is undergoing a $14 million renovation. The plan, now in its final phase, will include upgrades to the exterior of both buildings, landscaping, expanded outdoor areas, a new four-level parking garage, new signage, and delivery of additional speculative suites.
The office complex, which totals 290,157 square feet, nabbed 121,500 square feet of office leases this year, according to Gordon Messinger and Randy Carballo of CBRE who represented Banyan in all lease negotiations. But it’s unclear to what extent the property as a whole is occupied.
Julia Echikson can be reached at jechikson@commercialobserver.com.
