The bank, which previously occupied 18,450 sf in the building, doubled its space because it acquired the private banking business from Barclays, and "with those persons added to their staff, they needed the additional space," Grubb & Ellis senior VP Richard O. Cooper tells GlobeSt.com. Cooper represented the bank, while AFA Real Estate of Miami spoke for the owner. One Brickell Sq. is now 84% occupied.
Royal Bank was also looking at the Barclays Bank sublease space at 1111 Brickell Ave. A 50,000-sf space there has since been leased to Mellon Bank, at an estimated lease value of $11.8 million. The 522,843-sf building is being rechristened as the Mellon Bank Building.
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