Dominic Montazemi, Scott O’Donnell and Greg Miller Negotiated the Sale of the ±92,000-Square-Foot Miramar Facility for Green Meadows Miramar LLC

Cushman & Wakefield announced today that it has negotiated the sale of a 91,872-square-foot operations and call center located at 15800 SW 25th Street. The building is currently fully occupied by Comcast, which houses more than 800 employees at the site.

Managing Director Dominic Montazemi, Executive Director Scott O'Donnell and Senior Associate Greg Miller represented Chicago-based Green Meadows Miramar LLC in the disposition. Key Biscayne-based ATCG, LLC acquired the asset for $22.75 million ($248 per square foot). Cushman & Wakefield’s Capital Markets Team co-marketed the property with CBRE Senior Vice President Tom O’Loughlin.

The state-of-the-art asset is Comcast’s second and most recent operation in Miramar. The global communications conglomerate has leased the building through 2026 and self-manages the property as well.

15800 SW 25th Street was developed in 2000 and features a raised call center floor, renovated bathrooms, a fitness center, an on-site cafeteria with indoor and outdoor seating, fiber to the building, hurricane resistant construction, a full battery UPS backup with generator and 650 surface parking spaces providing an exceptional ratio of 7.14 spaces per 1,000 rentable square feet.

Green Meadows Miramar LLC and Comcast undertook a $3 million capital improvement program earlier this year, improving the asset’s overall finish and adding employee amenities. More improvements are anticipated, and when build-out is complete, the building will house multiple high-tech training rooms and demonstration laboratories in addition to the call center spaces. Comcast is projected to be the largest employer in Miramar after fully staffing this site.

The building is strategically situated on an 11-acre parcel at 15800 SW 25th Street within Miramar Center Business Park. The location, just north of the Interstate 75 and Miramar Parkway interchange, allows Comcast to draw from the diverse and talented workforces in Miami-Dade and Broward counties.

“This asset comprised an extremely well-located, high-quality asset with an irreplaceable amount of excess parking and land,” said Montazemi. “This was an exceedingly rare opportunity to acquire a major mission-critical facility with a long term lease to a Fortune 50 company.”

Including this transaction, the South Florida Commercial Team of O’Donnell, Montazemi, Miguel Alcivar, Miller and debt financing partner Jason Hochman closed more than $514 million in sales and financing in 2016. Please visit www.southfloridacommercialteam.com for more information about the team.

About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors and occupiers optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.