1450 Brickell Signs 19,000 SF Tenant

Aug 29, 2011 No Comments by

Global insurance broker Willis of Florida, Inc. has announced that it will relocate its Latin American regional headquarters to 1450 Brickell office tower.

The firm will occupy a total of 18,875 square feet of office space in the 582,817 square foot building, bringing 1450 Brickell’s total occupancy rate to 70 percent less than 18 months following its delivery to market.

Willis’ long-term lease at 1450 Brickell represents an expansion for the firm. The London-based company employs roughly 20,000 people at more than 400 offices in 120 countries, with its U.S headquarters located in Chicago’s iconic Willis Tower (formerly Sears Tower), the nation’s tallest building. Financial terms of the new lease were not disclosed.

Tere Blanca and Danet Linares of Blanca Commercial Real Estate represented landlord 1450 Brickell, LLC and Rilea Group in the transaction, while Josh Kuriloff and William Holly of Cushman & Wakefield represented Willis of Florida.

Willis of Florida becomes the latest blue chip tenant to take space at 1450 Brickell, joining JP Morgan Chase, BNY/Mellon, American Express, law firm Bilzin Sumberg, commercial real estate services firm Holiday Fenoglio Fowler (HFF), law firm Berger Singerman, Spanish financial institution Bancaja, City National Bank, executive search firm Korn/Ferry International, and private investment firm H.I.G. Capital.

Willis of Florida is a subsidiary of Willis Group Holdings plc (NYSE: WSH), a leading global insurance broker. Through its subsidiaries, Willis develops and delivers professional insurance, reinsurance, risk-management, financial and human resource consulting and actuarial services to corporations, public entities and institutions around the world.

Danet Linares, Executive Vice President at Blanca Commercial Real Estate, believes the flurry of major tenants taking space at 1450 Brickell has a net-positive effect on the region’s class A office market. “As top quality companies round out 1450 Brickell’s tenant roster, we’re beginning to see a healthier Class A office market overall. Top tier assets across the market have experienced gradually rising leasing rates, improved occupancy rates, and less cash allowances than provided by landlords in the past two years.”

 


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