Miami's Brickell Bay Office Tower Completes New Leases Totaling Nearly 32,000 SF of Class A Space

Aug. 23, 2012 - PRLog -- In the latest sign of Miami’s rising prominence as an international business hub, one of the city’s most prominent office towers is welcoming five new-to-market tenants. Brickell Bay Office Tower, a 32-story, Class A building located in Miami’s Brickell Financial District, has finalized leases totaling 31,642 square feet, with 24,396 square feet being taken by companies that are new to the Downtown/Brickell office market. The new tenants edge Brickell Bay Office Tower’s occupancy to 97%, ranking it among Miami’s most stable office buildings. Financial terms of the agreements were not disclosed.

The new-to-market tenants are as follows, with broker representatives indicated where applicable:
•   Domus Prime Services, which provides concierge services to Latin American clients
•   An undisclosed Houston, TX-based health care company (represented by CB Richard Ellis)
•   Global technology/IT provider NEC Corporation (represented by ES Brokers LLC)
•   Europe-based international sports broadcasting company MP & Silva (represented by Grant Killingsworth of Jones Lang LaSalle Americas, Inc.)
•   Law firm Alvarez, Arrieta & Diaz-Silveira, LLP (represented by Village Realty of South Florida, Inc.)

A sixth lease was finalized with Tom Manos P.A., which is relocating from another Brickell-area office building (represented by Brent Palmer of Howard Ecker + Company).
Christian Driussi, Vice President for Brickell Bay Office Tower, represented the building’s ownership in the transactions. He believes Miami is gaining traction as a go-to market for global firms seeking to establish a presence in the U.S. or Latin America.

“We have reached a point where companies from around the world looking to do business in the Americas are choosing Miami as the logical place to locate,” said Mr. Driussi. “Once they make the decision to lease office space here, Brickell Bay Office Tower is among the first buildings they consider, thanks to its waterfront setting, strong ownership, stable tenant base, and ideal location in the heart of Brickell.”

Other tenants in the building include Mallah Furman & Company; law firm Cantor & Webb; Vector Global Wealth Management Group; the British Consulate; Right Space Management; 1st United Bank; Newmark Southern Region LLC (a subsidiary of Newmark Knight Frank); Latin Trade Media Group; national bakery café chain Au Bon Pain; and global insurance giant AON Group, whose 38,000 square foot lease renewal at the tower was one of the market’s largest transactions of 2011.

The continued flow of lease activity at Brickell Bay Office Tower coincides with millions of dollars in capital improvements currently in progress. Following $1 million in upgrades to the building’s corridors and common areas, the tower’s elevator system is now undergoing a $1.8 million modernization project. Additional improvements, scheduled for late summer 2012, include the installation of glass sculptures in the tower’s lobby and atrium, new outdoor seating in a landscaped patio and updated design finishes.  

Designed by the Luckman Partnership in 1985, Brickell Bay Office Tower offers floor plates ranging from 10,896 to 18,622 square feet. Amenities include an open-air marble atrium and lobby, beautifully-landscaped plaza area, on-site bank and ATM, lobby café, dry-cleaning and carwash services, 24-hour manned security, and a covered parking garage with an above-market ratio of 3 : 1,000.

To learn more, please visit www.1001brickellbay.com. For leasing information, please contact the leasing team at (305) 536-1001.