United Healthcare Nixes 30K SF in New Miami Office
By Julia Echikson September 21, 2023 12:21 pm
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United Healthcare is downsizing in Miami, forgoing about 30,000 square feet.
The health care provider inked a 19,149-square-foot lease at 1000 NW 57th Court, inside the Waterford Business District, according to the landlord, Nuveen Real Estate.
United Healthcare is currently based three miles away at The Landing at MIA, where it occupies about 50,000 square feet. United will relocate to its new office in the coming months, said Andres del Corral of Blanca Commercial Real Estate.
The broker represented Nuveen, alongside Juan Ruiz, Jack Davidson, Jessy Aguila and Tere Blanca. The tenant’s agents, JLL’s Adam Bernstein, Aubrie Monahan and Jeffrey Ingham, did not respond to requests for comment.
United Healthcare’s lease brings the 417,152-square-foot building, called 1000 Waterford, to 81 percent leased.
The 10-story property is part of the Waterford Business District, which spans 250 acres just south of Miami International Airport, offering 1.65 million square feet of office space. Tenants include Subway, Toyota, FedEx, Atkins, Sony, Gilead, Swatch and Pernod Ricard.
The Miami office market has softened, recording nearly 50,000 square feet of negative absorption in the second quarter, as the vacancy rate grew by half a percentage point to 16.7 percent, according to data from JLL. But the average asking rent rose by $3.84 to $56.34 a square foot over the same period.
Julia Echikson can be reached at jechikson@commercialobserver.com.
