MIAMI—777 Brickell is seeing some office leasing traction as the market tightens. Beta Capital Wealth Management just inked an 8,653-square-foot lease in the urban core office building.
Cushman & Wakefield senior director Tony Jones and director Ryan Levy represented Beta Capital in the restructuring of its existing lease. The firm's project team advised Beta Capital to restructure its lease well in advance of expiration based on projected market tightening and continued rental rate growth.
“Direct vacancy in the office market ended the second quarter at 13.1%, down 10 basis points from a year ago,” CushWake Florida research manager Chris Owen tells GlobeSt.com. “Leasing activity totaled 467,775 square feet during the last three months with the Brickell Avenue, Downtown, and Airport West submarkets accounting for 68% of all new or expansion leases signed.”
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