Verizon Expands with New Headquarters in Miami

News Summary

Verizon has officially announced its relocation to a new 51,484-square-foot office in the Waterford Business District of Miami. The new headquarters, set to open in July, is conveniently located near the Miami International Airport. This move marks an important transition for the company, leaving behind its former space in Medley. Along with Verizon’s expansion, the Waterford Business District continues to thrive, attracting various businesses and enhancing local economic growth.

Exciting News for Miami! Verizon is Moving and Expanding!

Attention Miami residents! Big changes are coming to the Waterford Business District as Verizon has just secured a brand new 51,484-square-foot office space in the heart of this bustling corporate hub. This move is sure to make waves, especially for those who have watched this area transform over the years.

Location, Location, Location!

The new Verizon headquarters will be located at 5200 Waterford District Drive, specifically in Suites 500 and 600. It’s right across from the Miami International Airport, making it incredibly convenient for all those business travelers out there! With the office expected to open in July, it won’t be long before the space is abuzz with activity.

Goodbye Medley, Hello Waterford!

Verizon’s relocation from its former office in Medley is certainly noteworthy. The previous property at 9700 N.W. 112 Ave. was quite a large space, measuring a whopping 145,352 square feet. Sold last year for an impressive $54.5 million, this building served as the headquarters for TracFone Wireless, a subsidiary of Verizon. Since acquiring TracFone in September 2020 for $6.9 billion, Verizon has been making strides to enhance its business operations.

New Developments on the Horizon

The sold building is set to face some major changes, as industrial developer Prologis plans to demolish the old Verizon office and replace it with a new warehouse complex. Prologis already has about 100 acres in South Florida ready for potential development—approximately 1 million square feet worth of new opportunities!

Waterford Business District: A Thriving Hub

The Waterford Business District is not just a pretty face; it’s a lively, 250-acre corporate park that has attracted a variety of renowned businesses. Other tenants include Assurant, Subway, and Miami Herald, showing the area’s appeal to a diverse range of companies.

To make the workplace even more inviting, the district has undergone extensive renovations with upgraded amenities like fitness centers and tenant lounges. There’s more! A brand-new shuttle service is set to connect all the tenants to the Miami Intermodal Center and Brightline’s MiamiCentral station, proving that this business hub is focused not just on work, but also on employee convenience and morale.

Occupancy on the Rise

With an overall occupancy of 82%, the office park features seven buildings owned by Nuveen and Pimco, totaling around 1.6 million square feet. This just goes to show that the Waterford Business District isn’t just on the map—it’s a dynamic and thriving environment for various businesses.

Keeping Up With the Competition

On top of Verizon’s move, Cardenas Marketing Network is also preparing to make its mark, with plans to open a 10,522-square-foot office in the area soon. Plus, industry giant Lennar Corp., known for its homebuilding efforts, already has its corporate office situated within this very district.

What This Means for Miami

As Verizon makes this significant move and helps contribute to the ever-growing economy of Miami, it’s clear that the city is on an upward trajectory. The Waterford Business District is evolving fast, and with top-notch amenities and a robust office market, it’s becoming a go-to destination for companies wanting to establish or expand their presence.

So, keep your eyes peeled for more exciting developments as Miami continues to welcome big names and fresh opportunities!

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