Brickell Area Renews 33,000 SF

Nov 18, 2013 No Comments by

Taylor & Mathis’ Andrew Trench has signed Hencorp Beckstone to a 20,000 square foot renewal at 777 Brickell in Miami’s Brickell Financial District and Brickell Bay Office Tower recently completed a 13,000 square foot lease renewal with Mallah Furman & Company, one of South Florida’s largest accounting firms.

The financial services firm conducted an extensive search for space before deciding to stay at 777 Brickell.  “While their search extended to some of the new office space on the market they ultimately chose to stay at 777 Brickell,” according to Trench.  “Newer isn’t always better.  777 Brickell is a prestigious office building, impeccably maintained with class A finishes.”

The ten year lease, which was co-brokered by William Holly of Pointe Group Advisors,  is valued at $7.5 million.

In addition to the Mallah Furman deal, another 24,500 square feet in new lease transactions were completed at Brickell Bay Office Tower. All told, 13 leases were finalized at the 280,500 square foot office tower, with seven transactions representing renewals and/or expansions by existing tenants. Financial terms of the agreements were not disclosed.

The completed leases bring Brickell Bay Office Tower’s total office occupancy to approximately 92%, ranking it among Miami’s most stable and well-occupied buildings. The transactions also coincide with a large-scale capital improvement program that has seen $3 million in upgrades to the building’s common areas, a complete overhaul of its elevator system, and the installation of new chillers that will enhance the building’s water and energy efficiency.

“While our leasing team has been successful attracting new users to the tower, we’ve always prioritized keeping our existing tenant base intact,” said Christian Driussi, Vice President of Leasing at Brickell Bay Office Tower. “These latest renewals underscore how a well-maintained building benefiting from stable ownership and a premium location can compete for top-tier tenants with newer assets in the market.”

Following is a select breakdown of the transactions, with co-brokers noted where applicable:

  • Certified public accounting firm Mallah Furman & Co., P.A. (represented by Tere Blanca and Alexander Cahlin of Blanca Commercial Real Estate)
  • Law firm Stack Fernandez Anderson & Harris, P.A. (represented by Walter Byrd of Transwestern)
  • Law firm Ronald Haber, Barry Lieber Attorneys at Law, P.A.
  • Insurance company Hiscox, Inc. (represented by Clarissa Willis of CBRE)
  • Global insurance company Ironshore Insurance Services, LLC (represented by Robert Orban of Studley)
  • International financial services company Banif Finance USA, Corp. (represented by Vivian Gonzalez of CRESA South Florida)
  • Private Equity firm The Equitium Group, LLC
  • Latin American market financial advisory firm Cobaltum Partners LLC
  • Private wealth, corporate and fund administration services company JTC Miami Corp.
  • International law firm Edwards Wildman Palmer LLP (represented by Robert Orban of Studley)
  • Freight services company Lauderdale Tankers Corp.
  • Private banking institution DF Deutsche Forfait Americas, Inc. (represented by Shelton & Stewart Realtors)
  • Information Technology firm MGNine, Inc. (represented by South Beach International Realty)

Other tenants at Brickell Bay Office Tower include global insurance giant AON Group, global technology/IT provider NEC Corporation, multinational integrated technology provider Syntel, international law firm Astigarraga Davis, the British Consulate, 1st United Bank, national bakery café chain Au Bon Pain, and publicly traded global strategic business advisory firm The Hackett Group.

 

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