As high-profile newcomers snatch up Miami leases, Amadeus, a leading travel software company, is downsizing its footprint in the city.
The tech company is vacating its entire North American headquarters at One Park Square in Doral, Fla., placing the entire 84,110 square feet on the market. The global firm is looking for a new office with about half that square footage and plans to keep its U.S. headquarters in Doral.
“This transition is about creating a space focused on culture and promoting collaboration,” said Savills broker Tom Capocefalo, who represents Amadeus and is heading the sublease process. Amadeus’ current lease will run out in five years, he added, and declined to provide the asking rent.
Amadeus’ 85,000-square-foot office is hitting the market as industry giants scout Miami locations. For example, hedge funds, such as Citadel and Millennium Management, are rumored to be looking for around 80,000 square feet.
Located on the outskirts of Miami-Dade County, the 281,785-square-foot Doral office building stands just west of the city’s main airport at 3470 NW 82nd Avenue. Other tenants include wholesalers Nature’s Flowers and Alcora Group.
Source: Commercial Observer