LPC Retained As Property Manager For Dolphin Corporate Park In South Florida; Boosts Managed Portfolio For Innovatus To Over 2.3M Square Feet
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MIAMI, FL – Lincoln Property Company Southeast (LPC), a full service commercial real estate firm headquartered in Dallas, was recently retained as Property Manager by Innovatus Capital Partners, LLC (Innovatus), an independent advisor and portfolio management firm based in New York City, for its newly acquired Dolphin Corporate Park.
The 164,509-square foot Class A office campus is located in the city of Sweetwater in northwest Miami-Dade County. It consists of two three-story office buildings built in 2008 on 9.24 acres at 11410 and 11430 NW 20th St.
Diego I. Juncadella, Vice President-South Florida, said over the last 22 months LPC has assisted Innovatus in closing 10 properties across the country with Dolphin Corporate Park being the latest acquisition.
“This purchase continues to align with our consistent approach to acquire cash flowing, high-quality commercial office properties located in strong growth markets across the U.S. with a secure and resilient tenant rent roll,” said Bradley Seiden, Managing Director at Innovatus. “We look forward to continuing our relationship with Lincoln Property and becoming part of the growing greater Miami metro.”
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“Through a challenging closing environment, our strategic partners – lenders, operators, attorneys and vendors – all stepped up to meet their obligations, which contributed to a successful closing,” Seiden added.
As a result of this acquisition, the LPC-managed portfolio for Innovatus now exceeds 2.3 million square feet, according to Juncadella.
Anchor tenants at the office center – which is 94.2 percent occupied – include Humana (CarePlus); ADT Security Services; ATF (GSA); Food and Drug Administration (FDA); US Bank; Banco Santander and Brickell Bank.
“These credit tenants were attracted to the Dolphin Corporate Park’s build quality, which exceeds Florida’s demanding building codes for hurricane safety standards and N+1 power redundancy. These key attributes provide a value proposition to tenants in South Florida who, now more than ever, need assurance of business continuity in their office space,” said Edward J. Price, Senior Vice President for LPC.
Dolphin Corporate Park’s strategic proximity to both the Dolphin Expressway and Florida’s Turnpike along with the adjacent 1.4 million square-foot Dolphin Mall offering numerous dining and retail amenity options for tenants, are among the reasons the property has maintained an average of 95 percent occupancy with credit tenants.
In addition to those location advantages, the state-of-the-art disaster-resistant construction is unsurpassed as the two buildings have been rated as the only category 5 hurricane resistant office buildings in Miami-Dade, according to Price. “This competitive advantage is expected to attract tenants on a long-term basis.”
LPC’s Director of Property Management Art Fernandez who will oversee the property can be reached at 305-607-7963.
For more information, contact
- Diego I. Juncadella, Vice President-South Florida, Lincoln Property Company Southeast; 786-762-3076 email@example.com
- Edward J. Price, Senior Vice President, Lincoln Property Company Southeast, firstname.lastname@example.org 407-872-3500
- Beth Payan, Larry Vershel Communications Inc. Beth@LarryVershel.com 407-644-4142 or 407-461-3781
About Lincoln Property Southeast
Lincoln Property Southeast is a commercial real estate firm offering a comprehensive suite of value-added services for clients. With a substantial local presence and history in the Southeast region, the company is ideally situated to provide superior service, which comes from striving to understand the goals and challenges of tenants, investors, lenders and owners of commercial real estate.
About Innovatus Capital Partners, LLC
Innovatus adheres to an investment strategy that identifies distressed, disruptive and growth opportunities in the less obvious market segments across multiple asset categories with a unifying theme of capital preservation, income generation, and upside optionality. The firm has a dedicated team of real estate investment professionals with deep experience in commercial real estate acquisitions, recapitalizations and asset management across core-plus and opportunistic real estate investments amongst all property types including office, retail, hotel, medical, industrial and warehouse. Innovatus and its principals have significant real estate experience with ventures that range from the creation of a CMBS lending group and servicing platform to making equity investments in developments and single asset purchases. Further information can be found at innovatuscp.com.