Brian S. Gale and Ben Moss of Taylor & Mathis Inc. in Miami are responsible for the deals. The two have "expanded, renewed or did new deals on almost 40% of the building" in the past half year, Gale, the company's managing director of brokerage services, tells GlobeSt.com.
The 11 new leases in the building total more than 63,000 sf of space and have an approximate combined gross value of $15.2 million. The average rental rate in the building is $30 per sf. Among them are:
-Cartier, which signed a 20,000-sf lease. The building houses Cartier's Latin America headquarters.
-Christie's Auction House, which inked a deal for 1,000 sf.
-UBS Paine Webber, 2,800 sf.
-Arcor USA, the largest candy manufacturer in Latin America, 7,300 sf.
-Turbana Corp., 5,000 sf.
-Peebles Atlantic Development, 5,750 sf.
-Roger Development, 2,500 sf.
-Samlut & Co., 3,000 sf.
-Manny Seage, 3,887 sf.
-Jamie Zambrano, 2,000 sf.
"It's a very prestigious tenant roster," Gale says, attributing the success to strong sales efforts and a high-end building features. "I think we've been aggressive in terms of really going out there. We've held tight on our rental rates."
He adds that, "it's a great building," with design elements" as nice as any in Coral Gables," including marble and granite features. The 550 Biltmore building is owned by a fund advised by J.P. Morgan Fleming. The 162,000-sf building was built in 1985.
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