9800 – 9850 DORAL BOULEVARD, DORAL, FLORIDA 33178
When TA Associates acquired a 17-acre development site in Miami-Dade’s prestigious Doral neighborhood, Walter Robinson and his team took the opportunity to present a master-planned, multi-phased office campus concept that would be close to surrounding executive housing and convenient to Miami International Airport.
Originally zoned for residential development, the site was adjacent to Costa del Sol Golf Club and was a convenient drive to the renowned Doral Resort and Country Club. Banking on the Doral area’s strong demographic, growth trends, and depletion of raw land, ownership agreed that an upscale office community would be the highest and best use for the site.
Robinson’s team was retained to execute their master plan for what would become Doral Costa Office Park, and then market the development to area corporations.
After a thorough site assessment and focused market research and analysis, a multiphased development program was approved. Doral Costa would feature extensive tropical landscaping and a large central fountain, creating a park-like experience that was in reality only minutes from the airport and key South Florida transportation corridors.
The first phase was delivered in 2001, consisting of a four-story, 130,000-square-foot office building and smaller 20,000-square-foot office/retail building on the site’s highlyvisible intersection of Doral Boulevard (NW 41st Street) and 97th Avenue. The second phase consisted of a twin four-story office building, which was delivered in 2006.
Doral Costa’s location and quality attracted many high-profile tenants, Allstate, HSBC, International Data Corporation, Marsh and McLennan, Samsung, Seitlin, Zebra Technologies and World Fuel Services.
Today Doral Costa’s occupancy is 95%, well above the submarket average and the property is achieving rents at the upper end of the scale when compared to its nearby competition. With the investment stabilized for the future, this asset has out performed the projected pro forma and value for its investors.