Flagler Corporate Center
Managing Director Gordon Messinger Has Pushed Occupancy in the 635,000-Square-Foot, Multi-Tenant Office Building From 62 Percent to Nearly 90 Percent
Cushman & Wakefield announced today that it has negotiated a 24,000-square-foot office lease expansion with Simply Healthcare at Flagler Corporate Center, pushing occupancy in the building to nearly 90 percent.
Managing Director Gordon Messinger secured the lease expansion on behalf of New York-based building owner Hoffman Properties, which acquired the asset in 2014. Hoffman Properties has a long history of ownership, management and development and has successfully repositioned the building from a single-tenant to a multi-tenant asset.
Flagler Corporate Center was 62 percent occupied when Messinger assumed leasing responsibilities in October 2014. He has pushed occupancy significantly by securing leases with notable tenants such as Florida International University (FIU) and PCM, Inc.
“This is a great case study in how to transition a building from single-tenant to multi-tenant in such a short timeframe,” added Messinger. “Not only have we executed that strategy for our client, but we have attracted some of the premier, credit tenants in the market.”
Simply Healthcare, which provides health insurance to more than 200,000 Medicaid and Medicare recipients throughout the state of Florida, now occupies the entire top floor of Flagler Corporate Center, totaling 107,714 square feet. In September 2015, Messinger negotiated a long-term, 83,714-square-foot relocation lease with Simply Healthcare, consolidating two Coral Gables offices into a single corporate headquarters.
Simply Healthcare, a subsidiary of Anthem Insurance, currently employs 740 people at Flagler Corporate Center. This expansion will allow the company to grow its workforce in the building to nearly 900.
“Simply Healthcare values Flagler Corporate Center’s central location within Miami-Dade County and the ability to house its entire workforce on one floor,” said Messinger. “This building is unique in its ability to accommodate those needs while providing an amenity package capable of supporting such a large staff.”
Flagler Corporate Center is a six-story, 635,000-square-foot building built in 1975 on 26 acres in the Miami Airport West submarket. The facility was originally designed and constructed for Florida Power & Light (FPL), which still anchors the asset. Flagler Corporate Center is secured 24/7 and offers an abundance of parking, backup generator capabilities, on-site management, a rooftop helipad and a full-service cafeteria. FPL provides FiberNet fiber optic networking service to the building.
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.