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Week of July 29, 2004 |
| Executive suites up for lease at former Burger King campus By Marilyn BowdenDevelopers say 24 executive suites at Palmetto Bay Village Center are available, the first renovated offices at Burger King's former headquarters - an 80-acre property between Old Cutler Road and Biscayne Bay on 184th Street. Scott Silver, a principal at Grouper Financial, which bought the site last year, said the Class A suites, ranging from 400 to 1,500 square feet, are on the third floor of the 220,000-square-foot main building at 17777 Old Cutler Road. The high-end build-out features 10-foot ceilings and glass-wall partitions, he said. "About two-thirds of the spaces have a bay view," Mr. Silver said. "There are no other bayfront executive suites in the south end of town." In addition to a receptionist, shared amenities include Gardener's Market, a day-care center, three conference rooms and a kitchen with a microwave, vending machines, a refrigerator and kitchenware, he said. Leases run $800 to $2,400 a month. "We have a lot of folks signing up," he said. "Many of them are executives who live in Palmetto Bay or Pinecrest and are not ready to have their own office space. This gives them an alternative and also acts as a business incubator until they can then move up to larger offices." The executive suites are part of a $7 million renovation of the center's main building scheduled for completion in October. Mr. Silver said about 80,000 square feet, or 40% of office space, has been preleased. Leasing agents at Abood Wood-Fay Real Estate Group said rates for conventional office space at Palmetto Bay Village Center run from $17 to $24 a square foot. Mr. Silver said tenants include South Dade Rehabilitation Services; Room to Grow, a day-care center; Gardener's Market; Ryder Systems; Quality Care, a provider of home health care; Madison Avenue By the Bay, a small spa; and MT Crestwood, developer of high-end retirement communities, which has locked up 10 acres at the north end of the center. "We have six or seven other contracts out for signature," he said. Mr. Silver said two other freestanding office buildings on the campus are being marketed for single users. The newly incorporated Village of Palmetto Bay is considering using Building C, a three-story, 34,000-square-foot property, to house some of its municipal offices. A school was interested in Building B, a 51,000-square-foot facility, he said, but the deal fell through during the planning process when the Palmetto Bay Village Advisory Committee decided that it would create too much traffic. Details: (305) 446-0011, ccutler@aboodwoodfay.com or mstierheim@aboodwoodfay.com. |
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