Miami's 1450 Brickell Office Tower Signs Major New Leases

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(MIAMI, FL) -- The 1450 Brickell building is on a roll these days.

The 35-story, 582,817 square-foot 'class-A' office tower in downtown Miami's Financial District has finalized office leases with financial services firm BNY Mellon, executive recruitment firm Korn/Ferry International, investment banking firm BroadSpan Capital and commercial reinsurance company International Broking Solutions.

These 3 new lease agreements total a combined 26,045 square feet of office space, bringing the total amount of space leased at 1450 Brickell to more than 226,000 square feet. Financial terms of the agreements were not disclosed.

Tere Blanca and Danet Linares of Blanca Commercial Real Estate represented landlord 1450 Brickell, LLC and Rilea Group in the transactions. Alan Kleber and John Marshall of Cushman & Wakefield of Florida represented Korn/Ferry International, which will relocate from Wachovia Financial Center. BNY Mellon, which is relocating from Sabadell Financial Center, was represented by Jones Lang LaSalle. Bill Cutler of Colliers Abood Wood-Fay represented BroadSpan Capital. The other transaction did not involve co-brokers.

The latest tenant relocations to 1450 Brickell are indicative of the 'flight to quality' underway in the South Florida office market, according to Tere Blanca, President and CEO of Blanca Commercial Real Estate. "As companies increasingly seek to align their real estate decisions with their business goals, the Miami office market is witnessing a 'flight to quality' driven by office users looking to upgrade their occupancy to assets offering financial stability and ownership strength, superior location, efficient floor plates with panoramic views, advanced construction quality and premium finishes. 1450 Brickell stands out in each of these categories," said Ms. Blanca.

The BNY Mellon, Korn/Ferry International, BroadSpan Capital and International Broking Solutions leases follow two of the largest office market transactions of the past 12 months in Miami: the Bilzin Sumberg law firm's decision to take 80,000 square feet at 1450 Brickell and private investment firm H.I.G. Capital's 39,000 square foot lease.

Factors driving tenant traffic to 1450 Brickell include the building's panoramic views, location within walking distance of more than 30 retail businesses, restaurants and high-end hotels, and close proximity to 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.

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