Various locations

Flagler Station

Portfolio description

JLL Capital Markets (“JLL”) is pleased to exclusively offer the opportunity to purchase the Offices at Flagler Station (the “Portfolio, Properties, or Buildings”), a three-building portfolio of 4-story buildings totaling 402,144 square feet in the Doral / Medley, FL area (hereinafter referred to as “the Opportunity”). The Portfolio is 62.4% leased to a high-quality roster of national and local tenants and has been impeccably well-maintained by institutional ownership. The 24.4 acre Property boasts market-leading access, a 5.0/1,000 parking ratio, and efficient floor plates for larger users. This location, with unparalleled highway access and visibility is poised to capitalize on the continuing influx of tenants seeking Class A office space as many of the nearby options are either full or being taken off line in favor of future developments. The Offices at Flagler Station allows future ownership business plan optionality, as it has industrial land use and zoning designations but is subject to current contractual leasing and previous zoning approval which designated the Property for office use. However, this previous approval could be modified to allow for industrial/warehouse use pursuant to a public hearing approval process.

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Attributes

Building area gross

37,360 m²

Land area gross

9.87 ha

Number of buildings

Number of floors

Occupancy

62.4%

WALT

4.4 years

Flagler Station (3 Properties)

Media

Investment Highlights

Repositioning Play in Highly Accessible Location

Flagler Station offers a rare investment opportunity in Miami, Florida. Located at the western edge of the Miami Airport Submarket, less than 1 minute from Florida’s Turnpike, Flagler Station offers market-leading connectivity to tenants throughout Miami-Dade and Broward Counties. The Property is ideally positioned within 35 minutes from both the Miami CBD & Fort Lauderdale CBD markets. The irreplaceable location is well suited for access to decision maker housing as well as providing unparalleled access to workforce housing.

Discount to Replacement Cost

Flagler Station is offered at a steep discount to replacement cost, estimated at $400 per square foot (excluding leasing costs). The low cost basis will allow an investor to aggressively pursue leasing prospects and will give the Property a competitive advantage in the booming South Florida Office Market.

Institutional Quality

Originally developed by Flagler Development Group, Flagler Station was constructed in 2006-2009 to meet the industry’s highest standards for quality & efficiency. The property offers efficient floor plates and boasts amenities including a meeting room, fitness center, outdoor seating areas, and two on-site amenity centers.