HR software provider ADP signed a 78,315-square-foot lease at Miami’s Waterford Business District, making it one of the largest office leases in Miami so far this year.
The Roseland, N.J.-based company will relocate to an office at 703 Waterford Way, within the 250-acre business park, in the fourth quarter of 2027, according to Blanca Commercial Real Estate, which represented landlords Nuveen Real Estate and Allianz’s PIMCO Prime Real Estate. The lease is 10 years long for the office, which will span three floors.
The firm is currently based at 10200 Sunset Drive near Kendall, about 10 miles southwest of its new location. Travis Boyd and Jeff Gordon of CBRE represented ADP in the new transaction. Representatives for ADP did not immediately respond to requests for comment.
ADP’s lease “reflects the confidence that leading global companies have in Waterford’s ability to deliver a best-in-class workplace experience,” Charles Russo, the senior director lead of Nuveen Real Estate’s east region, said in a statement.
ADP will join a slew of high-profile companies at the Waterford Business District, such as Toyota, FedEx, Sony, Gilead, Burger King and Novartis. The campus features 3 million square feet of office space, including seven buildings that total 1.65 million square feet, which Nuveen and PIMCO own.
This year, Verizon inked a 51,484-square-foot office lease at the business campus, while insurer Assurant signed a 78,000-square-foot lease last year. In May, cruise line Carnival paid $27 million for a parcel within the Waterford Business District to build a new headquarters.
Updated: The story was updated to include additional lease details, such as the exact address and length of the lease.
Julia Echikson can be reached at jechikson@commercialobserver.com.
