JLL Closes 46,000SF Lease At Southeast Financial Center For Investment Firm’s New Headquarters

Jul 11, 2019 No Comments by

JLL completed a new 46,746-square-foot lease at Southeast Financial Center with Rialto Management Group.

The investment and asset management platform is relocating its headquarters from the Doral area to downtown Miami.

JLL Executive Vice President Eric Groffman and Vice President Cameron Tallon represented the landlord, Southeast Financial Center, in the lease negations.  Patrick Duffy, Vice Chairman of Newmark, represented Rialto Management Group.

 

“Rialto could have relocated anywhere, but they strategically chose a trophy office tower that epitomizes the best of the Central Business District’s work and lifestyle advantages,” said JLL’s Groffman. “From its world-class amenities to its seamless I-95 egress, the iconic Southeast Financial Center affords Rialto employees and clients—whether they be city dwellers or suburbanites—with a superior urban experience.”

Southeast Financial Center stands 55 stories above the bustling heart of Downtown Miami’s Central Business District. With over 1.2 million square feet of Class A office space, the property is comprised of two buildings — the 55-story office tower and a 15-story annex building housing the Downton Miami YMCA, parking garage and ground-level retail, which is connected by an elevated covered walkway.

Rialto is an integrated investment management and asset management platform, with a dedicated special servicer and over 200 associates across the United States and Europe.

 

“We’re very excited to welcome Rialto to the building. With all the talk of tenants trending to Miami’s urban core, Rialto’s selection of Southeast Financial Center—on the heels of WeWork’s recently inked lease, too—solidifies the renewed desire of prominent office users to establish a location in the downtown/CBD,” said JLL’s Tallon. ““In addition to its amenities, downtown offers greater housing diversity compared to Brickell and is drawing employers that prioritize urban locations that provide a wide range of accommodations for a large workforce.”

At ground level, Southeast Financial Center features a 30,000-square-foot outdoor plaza, complete with beautiful landscaping and seating areas, as well as a variety of cafe and dining options.

Miami’s office market continues to witness strong demand for new and high-quality office space, according to JLL’s Q1 2019 Office Insight Report. Miami recorded positive net absorption of nearly 230,000 square feet, which is four times as much as Q1 2018. Meanwhile, leasing activity surpassed 600,000 square feet, up 2.5 percent from last quarter and asking rents increased as well.

 

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