Downtown Doral continues to be popular as Avison Young completes a long-term lease for Venture X for a new-to-market tenant at 8350 NW 52nd Terrace.
Venture X is a membership-based shared workspace and community for businesses and individuals. The lease of 14,076 square feet marks their expansion into Miami-Dade County.
Donna Abood, Principal and Managing Director of Avison Young’s Miami operations, and Joe Abood, Senior Associate, completed the lease transaction for the Doral location. Fairchild Partners Senior Advisors Jonathon Lay and Tony Puente represented the landlord, Doral 8350 Office, LLC.
“Venture X is uniquely positioned as a major player in the shared office space market, the fastest-growing office segment in the US, with its new concept of boutique hotel-style hospitality and an inspiring community that feels professional and welcoming,” said Abood.
The Airport/Doral submarket has had consistent positive absorption and a declining vacancy rate. It was posted at 6.32% as of second quarter 2018 according to research by Avison Young. The city is offering a rarity in Miami: free parking.
“Our in-depth market insight allowed us to educate our client on Miami-Dade’s diverse real estate submarkets and advise on the optimal location for its expansion,” Abood said.
The company has other locations in Florida, with one operating in Naples and three scheduled to open this year in Orlando, Palm Beach Gardens, and West Palm Beach.