By: Ismael Rodriguez
Despite having its parent company based in Canada, Burger King now plans to make Miami-Dade County a long-term option with a new headquarters building at Blue Lagoon office park.
Newmark Grubb Knight Frank, a Miami-based commercial real estate agency, represented Burger King in signing the lease for a 150,000-square-foot building to be constructed on a five-acre site at 5707 Blue Lagoon Drive.
In 2015, Burger King finalized an $11 billion merger with Tim Hortons and its parent company Restaurant Brands International, which continues to control its franchise from Miami since 1959.
“Given rental inflation in the Miami office market and efficiency gains created in a new building, the cost of moving into a build-to-suit headquarters was less than remaining in an older facility,” Frank’s Patrick Duffy told the press. “It also allowed Burger King to remain in a single-tenant building that preserves their corporate culture.”
The new building will sit on the part of the office park owned by Allianz Real Estate of America and TIAA-CREF, with management by Hogan Group.
“This is a chance to start from scratch... It’s good that they are sticking around for the long term,” Hogan Group VP Stephen Smith told the press.
Burger King’s new building is expected to be ready by the third quarter of 2018.
Smith told the press that he hopes more companies find the business park near Miami International Airport a strategically favorable location.