Insurer Assurant has announced a major move to the Waterford Business District in Miami, leasing three suites within a 10-story building at 701 Waterford Way. The insurance company will occupy the space, which is designed for 1,500 employees, in June 2025.
The deal is the second-largest office lease in Miami this year, following MSC Group’s 130,000-square-foot lease at Block 55 at Sawyer’s Walk in Overtown. Blanca Commercial Real Estate, representing landlords Nuveen Real Estate and Allianz’s PIMCO Prime Real Estate, confirmed the lease agreement.
Assurant had been trying to sell their current property since last year but the sale fell apart when appraisers valued the price 30 percent above market value. The new location for Assurant, the Waterford Business District, is situated just south of Miami International Airport and spans 250 acres with 1.65 million square feet of office space. The district is already home to tenants such as Subway, Toyota, FedEx, Sony, Gilead, and Novartis.
Brokers representing Nuveen and PIMCO included Juan Ruiz, Andres del Corral, Jack Davidson, Jessy Aguila