MIAMI-1450 Brickell has inked a quartet of new leases totaling 34,566 square feet of office space, bringing the occupancy rate up to 65% after just one year on the market. The new tenants are law firm Berger Singerman, Mora Wealth Management, Key Consulting Services, and Armani & Associati.
Tere Blanca and Danet Linares of Blanca Commercial Real Estate represented landlord 1450 Brickell and Rilea Group in the transactions. Barbara Liberatore Black and Matthew Goodman of CRESA Partners represented Berger Singerman. The other leases did not involve co-brokers.
Berger Singerman’s full-floor lease at 1450 Brickell represents an expansion for the firm following its relocation from Southeast Financial Center. Mora Wealth Management will move its offices from 801 Brickell, while Key Consulting and Armani & Associates are both new-to-market tenants. Financial terms of the agreements were not disclosed.
“Of the 27 tenants we’ve signed, nearly half of those are new to market,” Blanca, president and CEO of Blanca Commercial Real Estate, tells GlobeSt.com. “That’s more proof that Miami continues to drive new investment because of our international diversity, an airport that is incredibly well connected globally, our port, a multilingual and highly educated workforce, and the many cultural amenities the city offers.”
Law firm Berger Singerman’s move to 1450 Brickell is consistent with the flight to quality that has dominated the Miami office market over the past two years. Part of Blanca’s strategy with the building is to attract a diverse mix of tenants that can have synergies with other tenants in the project.
“In surveying the class A office market, 1450 Brickell stood out as the preferred relocation option for its strong ownership team, convenient location, and advanced construction quality,” says Paul Singerman, shareholder and co-CEO of Berger Singerman. “At the same time, our move to 1450 Brickell positions our attorneys to create new business relationships with the grade-A roster of companies already located in the building.”
The new batch of leases at 1450 Brickell continues a steady string of transaction activity that has seen the tower attract the Miami office market’s blue chip tenants, including Bilzin Sumberg, commercial real estate services firm HFF, JP Morgan Chase, City National Bank, BNY/Mellon, Korn/Ferry International, H.I.G. Capital, Bancaja, Ratzan & Rubio, Kempler & Co. and BroadSpan Capital.
As Blanca sees it, Miami is about to take off in a way that the region hasn’t yet witnessed. “Miami is established as a world class community,” she says. “CEOs and major corporations that want to have a strong business in the region will find Miami is the place to be. It used to be that major cities in Latin America were less expensive than Miami. That’s not the case anymore.”
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