Univision Communications, a media company serving Hispanic America, is selling its previously occupied building at 1900 Northwest 89th Place in Doral.
The deal includes a two-story, 79,271-square-foot office building situated on a 1.73-acre lot and a 1.84-acre site with a surface parking lot across the street. Univision leased 40,000 square feet at 9250 Doral in Oct. 2015.
Avison Young principal John K. Crotty, along with principal and managing director of the firm’s Miami operations Michael T. Fay will spearhead the marketing and sale of the office building. The strategic position in Doral is a key selling point.
“Doral has become a booming metropolis and one of Miami-Dade’s most densely populated neighborhoods for local, national and international business,” Crotty tells GlobeSt.com. “This is attributed in part to the area’s tremendous ease of access to all major highways, including the Palmetto Expressway and the Dolphin Expressway, and proximity to the Miami International Airport. As such, we anticipate the savvy large owner/user or value-add investor will seek to take advantage of this aggressively priced opportunity.”
At a newly reduced price, Crotty says the office asset presents a rare opportunity for a large owner/user or value-add investor seeking to take advantage of the regeneration currently unfolding within the booming Doral submarket of Miami-Dade County.
According to Avison, the property is most fitting for medical/surgical center, office corporate headquarters, broadcast studio / production facility, telecom data, religious, mission critical office, customer service center, or operations center. The class B+ asset also fits the criteria for an investor interested in employing value-add strategies such as breaking up the space and making profit over time through aggressive management and leasing.
“Doral is primarily known for being home to numerous multinational operations and federal offices and approximately 120 corporate headquarters,” says Fay. “As an increasing number of companies are relocating to the area to be easily accessible to their employees and clients/customers, many large office complexes in the city are occupied by owner-users making an opportunity such as 1900 Northwest 89th Place uncommon and worthwhile.”