Law firm renewals & expansions are driving recent leasing activity at One Biscayne Tower, a building that has seen over 100,000 square feet of leasing this year. Three law firms have signed renewals and expansions totaling nearly 55,000 square feet with an additional 21,000 square foot renewal & expansion signed by French container transportation and shipping company CMA CGM. Brian Gale and Ryan Holtzman of Taylor & Mathis brokered the four deals valued at $42 million, on behalf of the building owner.
The largest of these transactions is the 10 year renewal by statewide law firm, Broad & Cassel. The firm renewed their lease of 26,000 square feet on the 21st floor. Even though many buildings tried courting them, their views from One Biscayne Tower couldn’t be beat. The deal was co-brokered by Richard Linevsky of NAI Miami.
“Broad & Cassel was one of the first new tenants we brought to the building over 10 years ago,” said Taylor & Mathis Principal Brian Gale. “We were hired to lease One Biscayne Tower as new buildings were being built which were poaching tenants from existing buildings. When we first signed Broad & Cassel it really helped solidify the building’s image, which turned around the leasing momentum. From there we signed several more law firm leases. Ten years later, we are renewing those same tenants. These renewals are testaments to the quality of the building, its ownership and of course those panoramic and unobstructed views of Biscayne Bay.”
The views were also key in securing the CMA CGM renewal and expansion. The world’s third largest container company has space overlooking the Port of Miami. “They can actually see their cargo ships, with their products and crates from their offices,” said Gale. With an expansion of 7,000 square feet, the firm now leases 21,000 square feet at One Biscayne Tower. The deal was co-brokered by Chris Coots and Didier Choukroun of Flagler Investment Property Group.
Jackson Lewis, one of the country’s preeminent workplace law firms, signed a 22,800 square foot renewal and expansion. The deal includes a 4,300 square foot expansion to their 18,500 square foot offices on the 35th floor. The deal was co-brokered by Chris Coots of Flagler Investment Property Group.
The law firm of Pathman Lewis, LLP renewed their lease of 10,200 square feet. The deal was co-brokered by Barbara Liberatore and Matt Cheezem of CRESA.
Earlier this year Synergy Workspaces entered the Miami market leasing 26,144 square feet, a full floor, at the building.
“One Biscayne Tower has strong Ownership, efficient floor plates with terrific window line and incredible views” said Taylor & Mathis Leasing Director Ryan Holtzman. “With Bayfront Park located directory to the east, One Biscayne has endless ocean views that will never be obstructed. Our tenants love the fact that they are within walking distance to some of the best restaurants and hotels in the City in the fastest growing area in Miami.”
One Biscayne Tower underwent renovations to the common areas last year with the vacant spaces and tenant corridors getting all new build outs with new common area finishes and lighting. “It looks like the interior of a brand new building,” stated Brian Gale, Taylor & Mathis Principal. One Biscayne Tower also received Gold LEED certification in 2014. During the LEED Gold certification process more than 83,000 square feet in lease transactions were completed. Tenants include FTI Consulting, Inc., Northwestern Mutual, Sedgwick, LLP, Harvard Maintenance, Grass Roots America, Veritext, LLC, Foreman Friedman, ADD Inc., Young Bill Roumbus & Boles, PA, Flagler Investment, Marcus Neiman & Rashbaum, CellMark Pulp & Paper.
One Biscayne Tower is centered in the heart of Miami’s dynamic business district and is within walking distance of courthouses, hotels, restaurants, high-end retailers and overlooks beautiful Biscayne Bay and Bayfront Park. The building has won five Office Building of the Year (TOBY) Awards from the Building Owners & Managers Association (BOMA). For more information, visit www.onebiscaynetower.com