Driussi: The location plays a major role. We’re sitting right on the bay. We don’t have any buildings close to us and there are no empty sites around us so the views will never be obstructed. The current owners purchased the building in 1993 at a much lower price. Therefore, we’re financially strong. Quality of service is also a factor. We pride ourselves in putting our tenants first all the time.

LeClaire: What types of tenants are you seeing looking at Brickell Bay during these times?

Driussi: Law firms have approached us, as well as financial companies both from Europe and South America and also some import-export companies.

LeClaire: Are you seeing the flight to quality? Are you seeing tenants upgrading from class B to class A space?

Driussi: Overall, I think that is true. In our case, I didn’t see much of that because I believe the spread between what we’re quoting and what our class B competitors is quoting is still so large. The class B tenant doesn’t want to pay a premium.

LeClaire: How important are capital improvements and owner investments in the asset in the eyes of tenant prospects and the current users?

Driussi: Very, very important. We’re constantly upgrading our building. Last year, we upgraded our elevator corridors and the hallways. We have upgraded the lobby. This year, we are planning to upgrade our elevators and also we have a restaurant, Au Bon Pain, that is going to see an upgrade.

LeClaire: What impact is Downtown Miami strengthening residential market having on Brickell Bay’s leasing and marketing activity?

Driussi: There are a couple of advantages. Some people who purchase properties in Brickell and Downtown need an office because they want to start a business. Also, companies know that their employees can leave their home and walk to work. That definitely plays a major factor in making Downtown Miami more appealing than other areas within Miami or elsewhere in South Florida.

LeClaire: Is there evidence that suburban users from markets like Aventura, Doral and Coral Gables are now looking to Downtown when considering new office space?

Driussi: Yes. In some cases, smaller tenants are more open to a satellite office. They saw this boom coming so they wanted to be part of it. Insurance companies and real estate companies are definitely interested. We also have seen some interest from financial services companies from Doral, because Brickell is considered the proper location for those companies.

LeClaire: What do you think are the challenges that remain in Downtown Miami’s office market?

Driussi: The biggest challenge is always the economy. We’re seeing gas prices going up. We need more people employed. That will not happen unless the economy keeps growing. Other than that, Downtown Miami just has to continue what it has been doing to provide more services for the residents. It can only get better.