The property asset involved in this transaction is an office space located at 703 Waterford Way in Miami. The total square footage of the asset is 51,484 square feet.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: Not disclosed
• Address: 703 Waterford Way
• Market: Miami
• Landlord: Mike Sales & Charles Russo - Nuveen Real Estate; François Trausch - PIMCO Prime Real Estate
• Tenant: Hans Vestberg - Verizon
• Landlord's Representative: Andres del Corral, Jack Davidson, Jessy Aguila, Juan Ruiz & Tere Blanca - Blanca Commercial Real Estate
• Tenant's Representative: John Marshall & Josh Kuriloff - Cushman & Wakefield

Verizon has signed a lease at Waterford Business District, marking it as Miami’s largest office deal of 2025. The landlord is represented by a joint venture with Nuveen and PIMCO, which acts on behalf of Allianz insurance companies, while Cushman & Wakefield is responsible for negotiating on behalf of Verizon.