Amadeus Signs 105,000 Sq. Ft. Office Lease, Largest Deal in Miami in 2010

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New Boston Fund, Inc., a private equity real estate investment firm, announced this week that Amadeus, a leading technology provider to the travel industry, has leased approximately 105,000 square feet of space at One Park Square, in Doral, Florida.

The deal becomes the largest new office lease signed in the Miami market in 2010.

New Boston Fund recently acquired a controlling interest in One Park Square, a 281,623-square-foot, 11-story, Class A office building located in the heart of Miami Dade's Airport West market.  The property features ground floor retail space, 24-hour security, on-site management, a fitness center, a conference facility, and an integrated covered parking garage.

Tere Blanca and Danet Linares of Blanca Commercial Real Estate, exclusive leasing agent for One Park Square, and Darryl Robinson of Oak Hill Advisors represented New Boston Fund, Inc. Amadeus was represented by Studley Senior Vice President Bruce Schuman and Corporate Managing Director Tom Capocefalo.

"Amadeus North America's relocation to One Park Square at Doral is the latest example of the building's appeal to corporate users in search of Class-A office space conveniently located in the heart of Doral's bustling business, retail and residential district. The building offers unmatched access to major thoroughfares and it is in close proximity to Miami International Airport," said Tere Blanca, President and CEO of Blanca Commercial Real Estate.

"The move to One Park Square enables Amadeus to align its corporate brand with the premier office product in Miami-Dade's Airport West area, while providing panoramic views from six office floors that sit atop the building's five-story integrated parking garage, a unique feature in the Doral market which provides tenants with secure covered parking. The asset's strong institutional ownership will further enhance the project's appeal to major corporations."

"We are pleased Amadeus chose One Park Square, an outstanding property, for its North America headquarters," said Pryse Elam, Southeast Regional Director of New Boston Fund.  "We have been working hard with Shoma Group to bring value back to this Class A building with leases from high caliber companies like Amadeus."

After conducting an extensive search of its relocation options with Studley as its advisor, Amadeus selected One Park Square at Doral. "Amadeus wanted a first class headquarters that matched its corporate culture and allowed them to remain in the Doral area with minimal disruption to its employees," said Studley Senior Vice President Bruce Schuman.  "One Park Square not only offers Amadeus spatial efficiency, but also provides access to amenities such as restaurants, an exercise facility, and covered parking."

New Boston Fund has recapitalized One Park Square in partnership with the previous owner, Park Square Commercial - F1 Building, LLC, an affiliate of Shoma Development Corporation and Shoma Homes, a 25-year veteran of development and construction based in Miami.  Park Square Commercial completed construction on the project in early 2010. New Boston and Shoma Group joined together as partners in the deal and will focus on leasing the remaining space in the building. Shoma Group, which is currently headquartered in the building, will also continue to manage the property.

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