Iconic Miami Office Tower Gets Makeover, Welcomes Three New Retail Tenants

Jul 21, 2020 No Comments by

Parkway Real Estate Services, LLC (“PRES”), announced the execution of three new retail leases following the completion of an approximately $10 million, hospitality-focused renovation at Sabadell Financial Center located at 1111 Brickell Avenue.

Additionally, Vice City Bean, Carrot Express and Fitbox Method have joined the retail mix at the 30-story, 524,000-square-foot office tower located in the heart of the Brickell Financial District.

A joint venture comprised of affiliates of Parkway Property Investments, LLC (“Parkway”) and KKR acquired Sabadell Financial Center in 2018. The partnership immediately commenced repositioning the building into a modern work environment centered on hospitality, community, and wellness.

Upgrades include a redesigned entrance to welcome tenants and guests; a modern, active lobby; cell signal technology enhancement; unique meeting and entertainment spaces; an expansive rooftop amenity deck with greenspace for yoga and other programmed fitness classes; and a new amenity
program including health and fitness and food and beverage offerings.

 

“With the multi-million-dollar renovation complete and these three new retailers in place, Sabadell Financial Center has been transformed into the most unique professional destination in Brickell—a place where office meets hospitality,” said John Guitar, principal of PRES. “The building now boasts a specialty coffee bar that brings a little Wynwood flavor, health-conscious food offerings that provide a taste of South Beach, and a modern gym that offers in-demand HIIT workouts. We’ve also enhanced the building’s already rigorous cleaning services, as the health and wellbeing of our tenants is our top priority.”

This marks the third location for Vice City Bean, a specialty coffeehouse that has gained a following since its launch in Miami’s Arts & Entertainment District; the eighth location for Carrot Express, which continues to dominate the region’s healthy, fast-casual market; and the second location for FitBox Method, a boutique, state-of-the-art fitness studio offering a revolutionary blend of cardio boxing and resistance training.

 

Phil Marchese, principal of PRES, added, “Sabadell Financial Center has always had a prime location in the heart of the Financial District with some of the best office views in Brickell, but now it also offers the latest health and fitness, social, and tech amenities that employees want. We’re confident the building’s upgraded amenities will improve our tenants’ ability to attract and retain top talent in the marketplace.”

The Colliers International team led by Jonathan Carter and Jenny Gefen represented the landlord in all three retail transactions and are the exclusive retail leasing agents for the building.

Sabadell Financial Center is a perennial fixture of the Miami skyline. Constructed in 2000, the building features panoramic views of Miami and Biscayne Bay, an expansive lobby, 8,000 square feet of ground floor retail, a 26,000-square-foot amenity deck and approximately 18,000 square feet of green space. Average floorplates span approximately 25,500 square feet with current availabilities ranging from 1,000 to 90,000 square feet. The building boasts one of the highest parking ratios in Brickell with flexibility for tenants to acquire additional spaces as needed, plus on-site valet, property management, security, and leasing. In addition to PRES and Parkway, the office tower is home to some of Miami’s most prominent companies including Sabadell United Bank, Telefonica USA, Morgan Stanley, Industrious, and the Baker & McKenzie law firm.

Located on the prestigious Brickell Avenue corridor and Southeast 12th Street, the building offers a highly accessible location with multiple routes to I-95 and convenient access to mass transit via Trolley, Metromover, Metrobus, Metrorail and direct connection to Virgin MiamiCentral Station. The building is in a highly walkable location with a walk score of 96 and is just steps from several entertainment, restaurant and hospitality options including Brickell City Centre.

 

 

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