MIAMI—It's not a new office tower, but it's become one of Miami's most stable and well-occupied buildings despite losing a major client in the downturn. Brickell Bay Office Tower just inked several new leases spanning 37,500 square feet to bring its occupancy rate to 92%.

The 32-story, class A office tower in Miami's Brickell Financial District inked 13 new leases. The largest was 13,000 square foot lease renewal with Mallah Furman & Company, one of South Florida's largest accounting firms. Seven transactions at the 280,500-square-foot office tower were renewals and/or expansions by existing tenants.

“While our leasing team has been successful attracting new users to the tower, we've always prioritized keeping our existing tenant base intact,” says Christian Driussi, vice president of Leasing at Brickell Bay Office Tower. “These latest renewals underscore how a well-maintained building benefitting from stable ownership and a premium location can compete for top-tier tenants with newer assets in the market.”