Miami’s Brickell Bay Office Tower Completes Nearly 40,000 Square Feet of Lease Transactions in 2012

Christian Driussi

New leases and tenant renewals/expansions cement the class A tower’s occupancy rate at 97% headed into 2013.

Miami’s Brickell Bay Office Tower maintained its standing as one of the market’s most desirable and best-positioned office buildings in 2012 – completing leases totaling nearly 40,000 square feet and undertaking a capital improvement program that will see $2.8 million in upgrades over the coming year. The 32-story, class A office tower located in Miami’s Brickell Financial District executed transactions totaling 38,360 square feet of office space, bringing the building’s total occupancy to 97% by the end of December 2012. In all, 11 leases were finalized at the 280,500 square foot office tower, with 22,397 square feet taken by companies that are new to the Downtown Miami/Brickell market.

New additions to the building’s tenant base include financial services provider Domus Prime Services, Global technology/IT provider NEC Corporation, international sports media rights agency MP & Silva, and law firms Alvarez, Arrieta & Diaz-Silveira, LLP and Tom Manos P.A. The list of tenants that renewed their leases in 2012 includes freight service company Midras International, investment services firm Infinity Quest, law firm Fitzgerald & Isaacson, LLP and accounting firm Gerson Preston Robinson & Company, P.A.

“Brickell Bay Office Tower has kept its leadership position in the market by retaining the bulk of its tenant base and bringing in new users from South Florida and beyond,” said Christian Driussi, vice president of leasing for Brickell Bay Office Tower. “Of the tenants we’ve signed this year, more than half are new to the South Florida area. That results in positive absorption for the market. The building’s ability to retain our existing tenant base while drawing new-to-market users solidifies its standing in one of the top business destinations in the Americas.”

Brickell Bay Office Tower’s 2012 list of transactions included a healthy mix of major corporate users, local and entrepreneurial firms, multinational companies and new-to-market tenants, as follows (co-brokers noted where applicable):
• Financial services provider Domus Prime Services
• Global technology/IT provider NEC Corporation (represented by ES Brokers LLC)
• International sports media rights agency 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.)
• Law firm Tom Manos, P.A. (represented by Brent Palmer of Howard Ecker + Company)
• Promed, LLC (represented by Chris Coots of CB Richard Ellis)
• Bread Partners Holdings, Inc. (represented by Daniel Cardenas of Butler Kosow Group)
• Midras International, which provides freight services and exports products to global cargo expediters
• Investment services firm Infinity Quest
• Law firm Fitzgerald & Isaacson, LLP
• Gerson Preston Robinson & Company, P.A. certified public accountants (represented by Newmark Grubb Knight Frank)

Brickell Bay Office Tower’s lease activity in 2012 coincides with a $2.8 million modernization project which includes upgrades to the building’s corridors, common areas, and elevator system. Completed improvements which have taken place over the last year, include the installation of glass sculptures in the tower’s lobby and atrium, the additional of new outdoor seating in a landscaped patio, and updated design finishes.

Not only do these capital improvements represent a significant investment from Brickell Bay Office Tower’s ownership group, but also reflect its commitment to the building’s loyal existing tenant base. Having maintained an above average occupancy rate in the 90%-plus range for the last three years, long-term tenants include AON Group, the British Consulate, Latin Trade Media Group and national bakery and café chain Au Bon Pain.

Located at 1001 Brickell Bay Drive, in the heart of Miami’s Brickell Financial District and directly overlooking Biscayne Bay, Brickell Bay Office Tower offers wide-open floor plates ranging from 10,896 to 18,622 square-feet, making the building an ideal leasing option for firms seeking premium quality in a mid-sized property. Amenities include an on-site bank, an Au Bon Pain Café, covered parking with above-market availability, a car wash service, and 24-hour manned security.

Learn more at the building’s website, www.1001brickellbay.com, or by calling the leasing team at (305) 536-1001.

About Brickell Bay Office Tower
Brickell Bay Office Tower is a class A office building located in Miami, Florida’s Brickell Financial District. The 32-story tower, which is comprised of 280,500 square feet of office space, is located directly on Biscayne Bay, just minutes from major expressways and Miami International Airport, and within walking distance of Metromover and Metrorail transit stations. The tower’s immediate neighborhood is home to a number of retail businesses and top-tier hotels and restaurants. Visit the building’s website at www.1001brickellbay.com.

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