Miami's 1450 Brickell Office Tower Leased 230,000 Square Feet in 2010

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In a sign that Miami's corporate sector continues to place value on premium office space despite economic volatility, 1450 Brickell Avenue, the class A office building that came online in Miami's Brickell Financial District in the first quarter of 2010, completed 230,470 rentable square feet of new lease transactions last year.

This brisk activity set pace for the market and solidified 1450 Brickell's standing as Miami's premier class A office property. The transactions completed - along with the 80,000 square foot space taken by law firm Bilzin Sumberg in September 2009 - bring the total amount of space leased in the building to roughly 305,000 rentable square feet.

The leases finalized in 2010 included a healthy mix of major corporate users, local and entrepreneurial firms, multinational companies, and new-to-market tenants. 1450 Brickell's 2010 additions include among others: financial giant JP Morgan Chase, BNY/Mellon, executive search firm Korn/Ferry International, private investment firm H.I.G. Capital, Spanish financial institution Bancaja, law firm Ratzan & Rubio, investment banking firm BroadSpan Capital, commercial reinsurance company International Broking Solutions, commercial real estate firm Holliday Fenoglio Fowler, Agri Commodity Trade, consulting firm Preston III, global commodities trader Yntegra, and Kempler Energy, which relocated to 1450 Brickell from New York City. Sacha's Café also signed a lease for retail space in the building's breezeway. Sacha's will open in the second quarter of 2011, serving breakfast and lunch.

"2010 was a banner year for 1450 Brickell, which has enjoyed a steady stream of leasing activity and now stands alone as the most sought-after high-rise class A office tower in Miami's Brickell/Downtown area," said Tere Blanca, President and CEO of exclusive leasing agent Blanca Commercial Real Estate. "Beyond the sheer volume of deal flow we've experienced, we're proud of the strong tenant makeup that has been drawn to the building. We're finding that major corporations and mid-sized entrepreneurial firms alike value the benefits of locating in a LEED Gold certified building that offers strong ownership, superior construction quality, efficient floor plates, and panoramic views in an easily accessible location."

For many tenants, the move to 1450 Brickell represents a desire to upgrade to space offering new technologies and sustainability features in a convenient location in Miami's urban core. John Sumberg, Managing Partner of anchor tenant Bilzin Sumberg, believes his firm's relocation to the building will positively impact efficiency and enhance quality of life in the workplace. Bilzin Sumberg expanded its space requirement from 75,000 to 80,000 square feet when it moved from Wachovia Financial Center to 1450 Brickell in 2010. "Bilzin Sumberg is a forward-looking firm and 1450 Brickell was designed and constructed with modern workplace and business practices in mind, so this is an excellent long-term fit for us. 1450 Brickell's space efficiencies, technology infrastructure, convenient location and advanced construction are unmatched in Miami and we are delighted to be located in this building."

Danet Linares, Executive Vice President for Blanca Commercial Real Estate, attributes much of 1450 Brickell's leasing success to the presence of blue chip tenants who serve as magnets for attracting other users. "For many tenants, a move to 1450 Brickell is about more than taking premium office space. It's about uncovering new opportunities for networking with potential business contacts and positioning a company among Miami's elite corporate users."

1450 Brickell's setting in Miami's Brickell Entrance neighborhood means tenants are within walking distance of more than 30 retail businesses, restaurants and high-end hotels, as well as Miami's Metro Mover, which provides transportation throughout Downtown Miami. Tenants are also drawn to the building's location away from the Miami River, affording them and their visitors the conveniences of the Brickell Financial District without the traffic headaches spawned by the bridges spanning the River. These quality of life features, paired with a trend that has seen many tenants in Miami and across the U.S. shift their focus to urban office space following decades of occupancy in suburban settings through the 1990's and early 2000's, bode well for 1450 Brickell.        

Beyond its urban location, 1450 Brickell stands out for its design features, LEED Gold certification and superior construction quality. The building is fabricated with above code large-missile impact glass from top-to-bottom, making its exterior curtain wall window system one of the nation's strongest. The tower also sports an above code backup generator that can power tenants' basic electrical needs during outages.

Designed by Miami-based architecture firm NBWW & Associates and constructed by Coastal Construction, 1450 Brickell offers panoramic views of Biscayne Bay, Brickell Avenue, and the city of Miami. Floor-to-ceiling windows and wide-open floor plates range in size from 24,000 square-feet to 25,600 square-feet, maximizing the flow of natural light throughout tenant areas.

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