Norwegian Cruise Line Renews Lease for Headquarters in Hines’ Airport Corporate Center in Miami

(MIAMI) – Hines, the international real estate firm, announced today that Norwegian Cruise Line (NCL) has signed a lease renewal for 198,000 square feet at its headquarters in Airport Corporate Center, located in Miami’s West/Doral submarket.

The anchor tenant’s long-term lease will run through 2023.

The 45-acre office park is home to 11 buildings totaling 1,018,477 square feet, plus a fully entitled 5.46-acre development site with up to 300,000 square feet of available development density.

NCL leases approximately 20 percent of the campus in two Class A buildings in the complex.

Hines Managing Director Gonzalo Cortabarria and Hines General Manager Jorge Barbontin represented the property owner, Hines Real Estate Investment Trust, Inc. (Hines REIT).

“We are pleased that NCL has chosen to make a long-term commitment to our campus, and Hines looks forward to continuing to provide the level of service to which they have grown accustomed,” commented Cortabarria.

Norwegian Cruise Lines has been located at Airport Corporate Center since 1997.

This represents the second lease extension since the Hines REIT acquired the property in 2006.

The property is leased to a wide array of other prominent national and regional tenants including: American Medical Response; Bell South; Brickell Financial; General Electric; Tyco Health Care; United Health Care; and URS.

Hines’ experience in the Miami-Dade area includes the development, in 1984, of the 55-story Wachovia Financial Center, and in 2004, the 12-story 2525 Ponce de Leon building in Coral Gables. Hines also owns and manages the 276,300-square-foot Doral Corporate Center located in the City of Doral, and recently acted as the Development Manager for the Frank Gehry-designed New World Center performing arts center in Miami Beach.

Hines manages and leases Airport Corporate Center on behalf of Hines REIT, a Houston-based public real estate investment trust sponsored by Hines.

Hines REIT currently owns interests in 57 commercial properties, which contain 26.8 million square feet of leasable space.

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