MIAMI-When H.I.G. Capital left the Brickell Bay Office Tower at the end of 2010, the perennial office tower took a major occupancy hit. But now the building is roaring back with 85% occupancy once again and property managers expect the asset to return to the mid-90s by the end of the second quarter.

The 32-story Brickell Bay finalized leases accounting for 67,425 square feet of space in 2010—19 leases in all. Six were lease renewals, a noteworthy accomplishment in a Downtown Miami/Brickell office market that’s seen a plenty of tenant’s shifting to the flood of new office space that came online. Office space occupancy in the Downtown Miami/Brickell area is hovering around 75%.

“Most of our tenants have been here for over 10 years,” Christian Driussi, vice president for Brickell Bay Office Tower, tells GlobeSt.com. “One of the main reasons is the extended service the client receives. Despite competition from newer assets, we were able to complete leases accounting for nearly 25 percent of Brickell Bay Office Tower’s total rentable square footage.”