GSA Buys 20 Acres North of Miami for Office Project

The U.S. General Services Administration (GSA) has purchased 20 acres in the city of Miramar in Broward County, FL, for construction of a 475,000-square-foot federal office complex.

The GSA paid Rockefeller Group Development Corp. $13.5 million for the land along the I-75 corridor in Miramar, FL, part of a larger 40-acre parcel owned by Rockefeller, which plans to market 10 acres of the land to another user while the remaining acreage is undevelopable wetlands.

Rockefeller Group expects interest in the remaining 10 acres to increase despite a sluggish Florida commercial property market.

“This site is one of the few remaining pieces of land along I-75 in Broward County and given the proposed flyover coming to the site by 2013, this area will continue to be very attractive to corporate tenants,” said Edgar C. Jones, Jr., Rockefeller vice president and regional development officer.

The sale is one of several recent transactions between Rockefeller Group and the GSA. The company leased 12,750 square feet of office space at Miramar Town Center to the United States Customs and Border Protection and last spring completed construction of a Veteran’s Clinic in Oceanside, CA.

The federal facility will consolidate thousands of square feet of federal office space spread among multiple office buildings in Broward and Miami-Dade Counties, according to Shyam Reddy, GSA Southeast Sunbelt Region administrator. The building will accommodate over 900 federal employees.

Source:  CoStar