Morgan Stanley Renews 42K-SF Office at Adam Neumann’s Aventura Property
The global financial services company has been a tenant at the 10-acre property in South Florida since 2007.
By Julia Echikson February 19, 2025 1:35 pm
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Morgan Stanley (MS) is staying put at Adam Neumann’s newly acquired office property, Aventura Corporate Center, a three-building complex north of Miami.
The global financial services company has renewed a lease for its 42,422-square-foot office, according to Blanca Commercial Real Estate, which represented the landlord. The tenant has been based at Aventura Corporate Center since 2007, when the six-story building at 20807 Biscayne Boulevard was completed.
A representative for Blanca, whose Christina Jolley brokered the transaction, declined to comment on the length of the renewal. Adam Bernstein and Zach Wendelin of JLL (JLL), who represented Morgan Stanley, did not respond to a request for comment.
In November, Israeli developer Canada Global, a subsidiary of Israel Canada — with Neumann’s new venture, Flow, as minority investor — acquired the 525,347-square-foot property for $116.2 million.
At the time of the sale, the three-building property, which offers 251,773 square feet of office space, was 92 percent occupied. But the 10-acre complex could be ripe for redevelopment, with the other two buildings having been built in the 1980s.
Last year, local officials approved plans to add two 24-story towers with 495 units and 39,000 square feet of commercial space to the site.
Julia Echikson can be reached at jechikson@commercialobserver.com.
