Hines REIT secures Norwegian Cruise Line lease renewal
Norwegian Cruise Line (NCL) has signed a lease renewal with Hines REIT for 198,000 square feet at its headquarters in Airport Corporate Center, located in Miami's West/Doral submarket. The anchor tenant's long-term lease will run through 2023.
The 45-acre office park is home to 11 buildings totalling 1,018,477 square feet, plus a fully entitled 5.46-acre development site with up to 300,000 square feet of available development density. NCL leases approximately 20 percent of the campus in two Class A buildings in the complex.
Hines Managing Director Gonzalo Cortabarria and Hines General Manager Jorge Barbontin represented property owner Hines REIT.
"We are pleased that NCL has chosen to make a long-term commitment to our campus, and Hines looks forward to continuing to provide the level of service to which they have grown accustomed," says Cortabarria.
Norwegian Cruise Lines has been located at Airport Corporate Center since 1997. This represents the second lease extension since the Hines REIT acquired the property in 2006.
The property is leased to a wide array of other prominent national and regional tenants including: American Medical Response; Bell South; Brickell Financial; General Electric; Tyco Health Care; United Health Care; and URS.
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