Miami's Brickell Bay Office Tower Leases 53,000 Square Feet

In a sign of rising demand for Class A office space in Miami’s urban core, Brickell Bay Office Tower has closed the books on a banner year marked by leases totaling nearly 53,000 square feet.
The 32-story, 280,500 square foot building in Miami’s Brickell Financial District completed 15 leases, including 9 lease renewals and expansions by existing tenants.
The transactions bring Brickell Bay Office Tower’s total office occupancy to 93 percent leased. Financial terms of the agreements were not disclosed.
The building is home to a tenant roster including AON, one of the world’s leading provider of risk management and insurance services; global technology provider NEC Corporation; multinational technology provider Syntel; international law firm Astigarraga Davis; the British Consulate; 1st United Bank; and The Hackett Group, a publicly-traded global  advisory firm.
 

“We’ve maintained Brickell Bay Office Tower’s place among Miami’s elite buildings, even as new towers enter the market,” said Brickell Bay Office Tower Vice President Christian Driussi, who represented the building’s ownership in the transactions. “The flood of tenant renewals and expansions we experienced in 2014 is a sign that we’re one of the most desirable addresses in Brickell. We credit this activity to our waterfront location, ownership’s ongoing investments in the property, and the strength of our tenants.”

 
Brickell Bay Office Tower’s 2014 transactions included a healthy mix of major corporate users, local and entrepreneurial firms, multinational companies and new-to-market tenants, as follows:
 

• Shared office provider Anex Office signed a new lease for 10,896 square feet (represented by Brent Palmer and Sharon Ellis of Palmer Property Specialists and Rise Realty).
• Leading global strategy and operations consulting firm The Hackett Group renewed its lease for 10,896 square feet.
• Boutique transactional law firm Tenzer PLLC expanded its lease to 5,309 square feet.
• Leading LED light company Brightness, LLC signed a new lease for 3,750 square feet.
• International cargo and freight company Lot Ocean Transport, Inc. renewed and expanded its lease to 2,949 square feet.
• Strategic sourcing and procurement firm ATN Industries renewed its lease for 2,638 square feet (represented by Fortune International).
• Leading certified public account firm, and one of the top 200 largest CPA firms in the nation, Gerson Preston Robinson renewed its lease for 2,597 square feet (represented by David Preston of Newmark).
• Concierge corporate services company PSM Corporate Services, Inc. renewed and expanded its lease to 2,565 square feet (represented by EWN).
• Modern Bank, a bank that provides entrepreneurs in New York’s leading industries with customized commercial and personal financing solutions, signed a new lease for 2,496 square feet (represented by Diana Parker of CBRE).
• Dancar Business Corp., a logistics company involved in food import/export, signed a new lease for 2,246 square feet.
• Engineering company VBH Engineering, Inc. signed a new lease for 2,231 square feet (represented by South Beach Estates LLC).
• Luxury yacht brokerage company Camper & Nicholsons renewed its lease for 1,696 square feet (represented by Engel & Voelkers).
• On-site automotive care service provider Onsite Instant Lube Corp. signed a new lease for 1,257 square feet.
• Miami Capital Partners, a real estate and legal services firm, expanded its lease to 985 square feet.
• Insurer American Risks Group renewed its lease for 447 square feet (represented by Optimum International Realty).

 
Brickell Bay Office Tower’s lease activity in 2014 coincides with the completion of a $2.5 million capital improvements initiative that included upgrades to the building’s corridors, common areas, as well as the modernization of the tower’s elevator system.
 

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