MIAMI BEACH, FL – January 20, 2016 – Regus inked a new 10-year lease with Terranova for a total of 19,374 square feet at 1688 Meridian Avenue, on two floors in Miami Beach.
1688 Meridian is a mixed-use project comprised of 92,644 square feet of office and retail space adjacent to the Miami Beach Convention Center that will undergo a major redevelopment to a total of 1.4 million square feet. It was designed in the early 1960s by internationally acclaimed Miami Beach architect Morris Lapidus, primarily known as the architect of Lincoln Road, Fontainebleau and Eden Roc hotels. The office is located on the hard corner of 17th Street and Meridian Avenue, a main thoroughfare to the famed Lincoln Road.
The tenant is relocating its business center from 1111 Lincoln Road and is expected to open June 2016 with its sales office opening earlier in the year. Regus will join Dizzy Inc., DBI Construction Consultants, Next Model Management, Uceda School, Verizon Wireless, and Merchant Data Systems.
“Regus is the world’s largest provider of flexible workspaces and they are naturally a great fit for 1688 Meridian Avenue,” says Terranova’s commercial associate Michael Nathanson who represented the landlord in the deal. “There has been a shortage of small office space available in Miami Beach and they were able to fill that need by taking a larger space, while at the same time moving closer to the anticipated over $1 billion worth of construction projects around the Miami Beach Convention Center. They add tremendous value to the business community in South Florida and we look forward to forming a synergistic relationship for many years to come.”
Terranova Corporation, South Florida’s leading commercial real estate advisory firm, currently is involved with commercial real estate assets for its clients and its own portfolio valued at more than $1 billion. The company offers complete commercial real estate services, including asset and property management, leasing, tenant representation, acquisitions, dispositions, financing, construction management and development services.