MetLife expands Florida presence.

TAMPA, FLA--MetLife, Inc. announced that it has expanded its presence in the South Florida market and acquired three office buildings totaling 495,000 s/f at Waterford at Blue Lagoon in Miami, Florida. Specific terms of the acquisition were not disclosed.

The Waterford acquisition includes the 6100, 6303 and 6505 Blue Lagoon Drive buildings. The buildings are located across from Miami International Airport within the 250-acre Waterford corporate park.

The buildings were owned by TIAA-CREF MetLife, which purchased five buildings at Waterford at Blue Lagoon in July, 2005, now controls approximately 850,000 s/f of office space within the park. Bill Miller, together with Chris Ross and Glenn Becker, of MetLife's Tampa Regional Office, led MetLife's acquisition effort.

This acquisition is a part of MetLife's multi-tiered acquisition and development program that targets office, apartment, retail, senior-housing and industrial opportunities in major markets.

"These transactions represent outstanding investment opportunities for MetLife and builds on our existing portfolio at Waterford at Blue Lagoon," said Chuck Davis, director for MetLife.

MetLife has enlisted Taylor & Mathis of Florida, LLC, to oversee management of the properties. Taylor and Mathis will also assume leasing responsibilities for the projects.

Brian Gale, managing director-brokerage services, will spearhead leasing efforts for the Waterford buildings.

"With the increase in occupancy and rental rates within Waterford over the past 12 months, these newly acquired assets bring economies of scale to MetLife," stated Gale. "We now can offer tenants a wider array of pricing options."