MIAMI—Despite more than 1 million square feet of new office space inventory coming online in 2010—and despite losing an anchor tenant that had a $58 million dollar lease on 15% of the building in 2009—Brickell Bay Office Tower has reached 97% occupancy. Brickell Bay inked nearly 40,000 square feet of leases in 2012.

The 32-story, class A office tower in Miami's Brickell Financial District executed transactions totaling 38,360 square feet of office space. In all, 11 leases were finalized at the 280,500-square-foot office tower. More than 22,000 square feet was taken by companies that are new to the Downtown Miami/Brickell market.

“Brickell Bay Office Tower has kept its leadership position in the market by retaining the bulk of its tenant base and bringing in new users from South Florida and beyond,” says Christian Driussi, vice president of leasing for Brickell Bay Office Tower. “Of the tenants we've signed this year, more than half are new to the South Florida area.”