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Atlanta-based Assurant is marketing the 78-plus acre South Dade campus it has occupied since 1982 that includes seven buildings, three of them office structures. Development of regional impact rights, according to the offering, allow “significant development on the site.”
Assurant, a provider of risk management products and services that employs 2,000 persons in the area, says it plans to stay in Miami-Dade but has yet to choose a new location and is not committing to a future employment level here.
The company employed 15,600 persons globally as of 2021 and had revenues of more than $10 billion. Last year it was ranked 325th by revenue in the Fortune 500 list of the nation’s largest companies.
CBRE last week circulated a call for offers on the site at 11222 Quail Roost Drive with immediate access both north and south to Florida’s Turnpike. A CBRE email cites a 5 p.m. June 16 timeline for offers.
The triangular campus has seven buildings. In addition to the three office buildings, there are a warehouse building and three now-closed school and daycare buildings. Those buildings total 515,659 square feet.
“The property was originally developed in the mid-1980s as part of a development of regional impact… which remains in effect today, [and] allows for a wide range of uses, including office, warehouse, retail & hotel,” the CBRE letter says. About 25 acres on the site are undeveloped.
The letter reveals that the location is in the buffer area for the Smart Corridor of the South Dade Transitway, the 20-mile-long rapid transit bus service linking the Dadeland area with Homestead that is now targeted to begin running next March. That proximity, CBRE writes, “allows for greater intensities and densities than those permitted in the underlying land use designs.”
The campus will be sold vacant, or possibly short-term leased, the letter says.
Assurant’s workers on the campus “support a number of our operations across both our businesses and functions, in the US and globally,” Linda Recupero, the corporation’s senior vice president, global head of enterprise communication, told Miami Today in response to questions.
“Like many global companies, Assurant has embraced a more hybrid workstyle, and as such we’ve enabled many of our employees to work remotely,” she said, “which has caused us to embark on a process to consolidate parts of our global real estate portfolio, including our Miami property.”
Assurant, she said, is “committed to maintaining an office in the Miami-Dade County area,” one that “best represents our physical space needs.”
Asked if the company plans to buy or rent that office space, she replied that “we are looking for the best location and optimal financial situation that makes the most sense for Assurant.”
The company, she said, has no timetable to move to that new site: “We are at the very start of this process.”
https://www.miamitodaynews.com/2023/06/06/assurant-trying-to-sell-its-40-year-south-dade-campus/
