Currently, the building has a 20% vacancy rate, according to Brian S. Gale, managing director of brokerage services for Taylor & Mathis. He says the firm's plan is to have the occupancy up to 95% within the next 12 months.
"We've got the recipe in place for a successful project," Gale says. Key ingredients in that recipe include a quality building, parking behind Brickell Avenue, quality ownership and a Morton's steakhouse on the first floor, he says.
Gale adds Taylor & Mathis doesn't have a major marketing plan but does plan to go after tenants whose leases expire in the next several months and making brokers aware of the property.
The building's tenants include Colonial Bank, Morton's steakhouse, CRESA Partners, Fidelity Investments and Kroll Associates. Colonnade Properties owns the building.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
