In the latest sign of Miami’s rising prominence as an international business hub, Brickell Bay Office Tower is welcoming five new-to-market tenants.
The 32-story, Class A building has finalized leases totaling 31,642 square feet, with 24,396 square feet being taken by companies that are new to the Downtown/Brickell office market. The new tenants edge Brickell Bay Office Tower’s occupancy to 97%. Financial terms of the agreements were not disclosed.
The new-to-market tenants are as follows:
- Domus Prime Services, which provides concierge services to Latin American clients
- An undisclosed Houston, TX-based health care company (represented by CB Richard Ellis)
- Global technology/IT provider NEC Corporation (represented by ES Brokers LLC)
- Europe-based international sports broadcasting company MP & Silva (represented by Grant Killingsworth of Jones Lang LaSalle Americas, Inc.)
- Law firm Alvarez, Arrieta & Diaz-Silveira, LLP (represented by Village Realty of South Florida, Inc.)
A sixth lease was finalized with Tom Manos P.A., which is relocating from another Brickell-area office building (represented by Brent Palmer of Howard Ecker + Company).
Christian Driussi, Vice President for Brickell Bay Office Tower, represented the building’s ownership in the transactions. He believes Miami is gaining traction as a go-to market for global firms seeking to establish a presence in the U.S. or Latin America.
“We have reached a point where companies from around the world looking to do business in the Americas are choosing Miami as the logical place to locate,” said Mr. Driussi. “Once they make the decision to lease office space here, Brickell Bay Office Tower is among the first buildings they consider, thanks to its waterfront setting, strong ownership, stable tenant base, and ideal location in the heart of Brickell.”
Other tenants in the building include Mallah Furman & Company; law firm Cantor & Webb; Vector Global Wealth Management Group; the British Consulate; Right Space Management; 1st United Bank; Newmark Southern Region LLC (a subsidiary of Newmark Knight Frank); Latin Trade Media Group; national bakery café chain Au Bon Pain; and global insurance giant AON Group, whose 38,000 square foot lease renewal at the tower was one of the market’s largest transactions of 2011.
The continued flow of lease activity at Brickell Bay Office Tower coincides with millions of dollars in capital improvements currently in progress. Following $1 million in upgrades to the building’s corridors and common areas, the tower’s elevator system is now undergoing a $1.8 million modernization project. Additional improvements, scheduled for late summer 2012, include the installation of glass sculptures in the tower’s lobby and atrium, new outdoor seating in a landscaped patio and updated design finishes.