The new global broadcast center in Miami, announced by NBCUniversal Telemundo Enterprises, is estimated to be worth $250 million. As such, this state-of-the-art center coupled with studios make this commercial lease the most valuable in all of Florida’s history. NBCUniversal purchased Telemundo Enterprises in 2010.
With a West Miami location, the broadcast center boasts 560,000 square feet of build-to-suit space. The space, which will be ready for occupancy in early 2018, will become home to a number of tenants, including shows broadcast by Telemundo Network like the Nuevo Dia morning show, news, Novela productions, and Al Rojo Vivo.
Representing NBCUniversal Telemundo Enterprises is a remarkable brokerage team consisting of Senior Director Audley Bosch with Executive Directors Mike Davis and Brian Smith. The primary focus is on consolidating roughly 1,300 jobs housed throughout Miami-Dade County at several facilities into the 560,000-square-foot, two-building campus in development at Prologis Beacon Lakes.
Although specific financial terms of the deal have not been disclosed, insiders firmly believe it surpasses all other Florida deals. Cushman & Wakefield were involved with pushing the disposition forward for the land sold by Prologis to SunTrust Bank. While SunTrust will serve as the landlord for Telemundo/NBCUniversal, Prologis will stay on as the consultant for the development phase.
On the west side of Miami is Beacon Lakes, a 478-acre multipurpose business park. This location has frontage on the turnpike and is owned and operated by Prologis. Currently, Beacon Lakes is where many large corporations maintain headquarters, including Amazon, Ryder Logistics, Panalpina, and others.
The address for the new Telemundo broadcast center and studios is the corner of NW 25th Street and NW 117th Place. The combination of advanced design, construction, and technology will result in many square feet of space designated to executive offices, as well as set design operations, post-production facilities, broadcast and entertainment studios, and a network operations center. However, a second building with 87,000 square feet is being developed specifically for storage purposes.
The project has everyone excited, since the completion of the NBCUniversal/Telemundo project will be historical. As stated by Davis, this innovative project is a huge team effort, and a collaboration of numerous firms and individuals who have spent the past three years working side by side.
In recent years, Florida has experienced a boom of both residential and commercial real estate projects. The new global broadcast center and studios is just one example, but with this particular project being so large, it definitely stands out.
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