ADP To Sell Longtime Miami Office, Teeing Up Possible Redevelopment
ADP is selling the 94K SF building where its Miami office has been based for 27 years.
The human resources and payroll giant tapped CBRE Senior Vice President David Wigoda to market the 28-year-old, two-story office building in Kendall, according to a marketing brochure. The nearly 9-acre site has 446 surface parking spaces, presenting a potential redevelopment opportunity.
The asking price wasn't disclosed, but the property is valued at $19.2M by the Property Appraiser of Miami-Dade County.
New Jersey-based ADP signed a 78K SF lease in September to move to the 250-acre Waterford Business District, a 16K SF downsize from its Kendall space.
Neither ADP nor Wigoda responded to Bisnow's request for comment. A CBRE spokesperson declined to comment.
ADP, which has eight more offices across the state of Florida, has listed its Miami office address at the two-story building at 10200 Sunset Drive since 1999, according to the company's annual reports filed with Sunbiz.org.
The office building was built in 1998 and has only ever housed ADP, but the listing states it can be redeveloped to accommodate multiple smaller tenants.
While the site is zoned for office and could accommodate an additional building on the surface parking lot, it could also be redeveloped as multifamily under Florida's Live Local Act, which allows developers to circumvent local zoning restrictions as long as 40% of a project is dedicated to workforce or affordable housing.
ADP's office would add to the growing list of corporate campuses in the suburbs of South Florida to be sold for redevelopment.
Office Depot sold its former Boca Raton headquarters to a development team planning a 500-unit apartment project.
TracFone Wireless, which Verizon acquired in 2021, sold its 145K SF headquarters in Medley for $54M to industrial giant Prologis. Bridge Industrial is redeveloping the former Ryder headquarters in unincorporated Miami-Dade into a 330K SF logistics park.
