Assurant has signed a 78,000-square-foot lease in Miami’s Waterford Business District. The company will occupy three suites in a 10-story building at 701 Waterford Way, which is intended for 1,500 employees. This deal is the second-largest office lease in Miami this year, following MSC Group’s 130,000-square-foot lease at Block 55 in Overtown.
Assurant will be moving from its current 75-acre campus in South Miami Heights to the Waterford Business District in June 2025. The company has been attempting to sell the property since last year, which includes a 499,425-square-foot office building built mostly in the 1980s. However, the sale fell through due to appraisers valuing the property 30 percent above market value.
The Waterford Business District is located just south of Miami International Airport and spans over 250 acres with over 1.65 million square feet of office space. Tenants in the district include Subway, Toyota, FedEx, Sony, Gilead and Novartis. Brokers for Nuveen and PIMCO as well as Blanca Commercial Real Estate and CBRE were involved in the lease deal.
Overall, Assurant is excited to make this move to a new and vibrant business district in Miami where it can continue to grow and expand its operations while being surrounded by great companies and amenities that will benefit its employees.
