Banco do Brasil Inks 10-Year Deal

May 13, 2013 No Comments by

Stiles Realty Director Michael Taylor today announced that Banco do Brasil America’s, a State Chartered Florida Bank owned by Banco do Brasil S.A., Latin America’s largest bank, has opened its first branch in Miami at 800 Brickell.

The bank signed a new ten-year 6,953-square-foot lease for premium ground floor office space fronting Brickell Ave in the city’s financial district, the second largest in the United States.

According to Taylor, the Brickell submarket is the bright spot in Miami’s office market. Stiles research shows that occupancy in Brickell is on a more rapid rise than other submarkets. Tenants seeking quality space and a large amenity base are attracted to the area due in part to its recent retail and residential developments.

“Brickell is being looked at as one of the premier office and residential markets in the country,” said Taylor. “As a result, top-tier office buildings like 800 Brickell that offer first-rate amenities and an excellent roster of tenants are attracting quality office tenants of national and international scale.”

Banco do Brasil Americas was founded in 2012 with three branches – each in Boca Raton, Coral Gables and Pompano Beach. The bank plans to open about 20 new branches in the next five years. 800 Brickell was chosen to be the first of these branches.

Stiles is responsible for the leasing and property management for 800 Brickell, a 208,325-square-foot premier office building in downtown Miami, which is Leadership in Energy and Environmental Design (LEED) Silver certified. The building is located on the corner of SE 8th Street and Brickell Ave – across the street from the future home of the $1.05 billion mixed-use Brickell City Centre development.

Taylor noted that for Banco do Brasil Americas, Brickell’s international scope and reputation as one of the country’s financial capitals was a key factor. “Unlike other cities, Brickell offers more than a place to work; it offers a lifestyle and access to the global economy,” said Taylor. “Brickell is the Wall Street of the South, and that continues to drive corporations and retailers to the area.”

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Industry News, Miami-Dade County Office, NA, Office
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