Brian Gale Sees No Slowdown in Sight as His Leasing Team Looks Towards Another Record Breaking Year

The Taylor & Mathis of Florida Miami-Dade leasing team had a record breaking year in 2013.  The team whose leasing portfolio encompasses four million square feet of office space throughout Miami-Dade as well as an office tower in West Palm Beach completed over 100 leases last year.  The leases totaled nearly 700,000 square feet and were valued at $165 million.  “The office market is sizzling right now,” said Taylor & Mathis Principal Brian Gale.   “Rents are increasing and tenant concessions are beginning to dwindle. Most of the tenant expansions have been in the field of professional services which include law firms, accounting firms, insurance agencies, etc. The Downtown/Brickell market was the hottest of the Miami-Dade submarkets in 2013 and is showing no sign of slowing down. Rental rates are increasing as is the absorption of vacant spaces.”

Taylor & Mathis leasing team includes Brian Gale, Andrew Trench, Ryan Holtzman and Jeannette Mendoza. “Throughout our 4 million square foot portfolio, we leased over 322,000 square feet of new leases, 276,000 square feet of renewals and over 92,000 square feet of expansions. We did six leases over 30,000 square feet and two were over 40,000 square feet.   Key lease deals included:

  • Akerman Senterfitt’s 40,000 square foot lease and Morgan Stanley’s 30,000 square foot renewal at Phillips Point in West Palm Beach
  • GrayRobinson’s 35,500 square foot lease at Wells Fargo Center in Downtown Miami
  • Quest Workspaces’ 20,000 square foot lease at 777 Brickell and 37,000 square foot lease at Espirto Santo Plaza in Miami’s Brickell Financial District
  • Weil Gotshal & Manges’ & Fowler White Burnett’s renewals at Espirito Santo Plaza

One of the keys to the leasing team’s success was securing renewals and expansions. Many of our existing tenants were courted heavily by nearly every Brickell and Downtown Miami office building including the new developments.  The key to getting those deals done was our existing relationships and our outstanding management teams,” said Andrew Trench, Taylor & Mathis Leasing Director.  “We were able to negotiate and finalize those renewals relatively smoothly, despite the market aggressively pursuing them.”  Taylor & Mathis was named Property Management Company of the Year at the 2013 Miami-Dade BOMA awards.

The Taylor & Mathis of Florida Miami-Dade Leasing Team

Andrew Trench, Nicole Gamarra, Brian Gale, Jeannette Mendoza & Ryan Holtzman

t&m leasing team

West Palm Beach’s Financial District’s Biggest Need: Good Office Space

Phillips Point 1

We have great office space opportunities at Phillips Point in West Palm Beach! Proud to be mentioned as Class A offce space by  Kelly Smallridge, president and CEO of the Business Development Board of Palm Beach County.” – Brain Gale.

“What they consider Class A is Phillips Point…,” Smallridge said. “They want ocean and Intracoastal (Waterway) views. They want buildings with amenities such as restaurants.”

West Palm Beach’s Financial District’s Biggest Need: Good Office SpaceWest Palm Beach Mayor Jeri Muoio (pictured above) stepped from the podium last Tuesday morning at Palm Beach County Convention Center and dropped a drape to expose a fancy street sign bearing the proposed logo of the “Flagler Financial District.” The city plans to mark off a piece of downtown already hosting brokerages, banks and investment houses, in hopes of luring more to set up satellites or even move their headquarters wholesale. “We already have a portion of our city where banking and finance is heavily concentrated. Now we need to let the world know about it,” the mayor told about 900 attendees at her third annual “State of the City” breakfast gathering. The district would run from Sixth Street in the north to Okeechobee Boulevard and from Rosemary Avenue east to Flagler Drive and the waterfront. “We’re really trying to sell our city,” Muoio told reporters after her talk. “We really want to see new businesses in our downtown.” But she said in her speech, “We all know putting up signage alone will not make it happen.” That usually means tax breaks and other incentives. Not necessarily, said Kelly Smallridge, president and CEO of the Business Development Board of Palm Beach County, which has helped lead the “Flagler Financial District” initiative. “The mayor’s move this morning really solidifies our effort to recruit (white collar) firms to this area,” Smallridge said Tuesday. “They’re already coming. Probably two dozen that came throughout the county in two years.” But she said that while financial breaks often are the carrot needed to lure down the really large firms, for not-so-huge operations, “they’re not asking for it, and we’re not offering it.” She said most of those coming down – and she sells all of Palm Beach County, not just West Palm Beach – are looking for good weather, of course. Cheaper commercial and residential real estate. A lower cost of living. And the big one: no state income tax. “If you make a million dollars in Manhattan and a million dollars in West Palm Beach, there’s $127,000 you’re paying in a (New York) state income tax,” Smallridge said. The biggest hurdle, she said, is that while residential real estate is exploding downtown, there’s a dearth of quality office space. And what’s there, she said, is running out. “What they consider Class A is Phillips Point; Esperante,” Smallridge said. “They want ocean and Intracoastal (Waterway) views. They want buildings with amenities such as restaurants.” Smallridge said she’s encouraging the city to expedite permitting. Chris Roog, the city’s economic development director, said the city’s been pounding the drums for a while about the lack of good office space. “That’s a great problem to have,” he said. “Now we need to fill the demand.” He said the city already is speeding up permitting. He also said that, as in your freshman Economics class, supply usually reacts organically to demand. But he said the city’s also been reminding the real estate community of the need. Source: Palm Beach Post

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The Six-Week Deal Quest Workspaces Leases Full Floor at 777 Brickell

Brian Gale’s leasing team had their best leasing year ever in 2013 with 625,000 square feet of office space leased at a value of approximately $158 million.

Quest - Espirito DSC_6876Within six weeks of learning full floor tenant Jordan Burt would not be renewing their lease at 777 Brickell due to a merger with Carlton Fields, Taylor & Mathis signed Quest Workspaces to lease the 20,000 square foot space to be vacated by the law firm. The executive suite company will open their second location in Miami’s Brickell Financial District in April moving to temporary space at the building until the new space build out is completed.

“The same day we learned the merger had gone through we called the Quest Workspaces’ broker, Lance Benson of Newmark Grubb Knight Frank, and said we have a great space for Quest if they are looking for another location on Brickell,” stated Taylor & Mathis Partner Brian Gale. “We made one phone call and six weeks later had a signed lease.”  The space is ideal for Quest. Former law firm space is very office intensive a necessity for an executive suite.  Taylor & Mathis also signed Quest to a 37,000 square foot renewal and expansion at Espirito Santo Plaza earlier this year.  The Taylor & Mathis’ Miami leasing team of Brian Gale and Andrew Trench worked with co-broker Benson representing Quest Workspaces, to complete the transactions.

“Quest Workspaces is an emerging executive center with a trendy & modern vibe,” stated Trench. “This is not your 1980’s executive suite.  They will be a great asset to 777 Brickell which is an impeccably maintained office building with class A finishes.  Executive suites often serve as incubator space for new companies poised for growth.”

“Miami is evolving into a world class city and Brickell Avenue is setting the pulse for the area’s growth and expansion,” said Laura Kozelouzek, founder and CEO of Quest Workspaces. “777 Brickell is a superior fusion of a chic and professional office space, in a prime location, priced at 20 percent less than our current Brickell [Espirito Santo Plaza] pricing, which will give clients the added value of a prestigious, downtown office address at a more affordable square footage price tag.”

Quest’s seventh location in less than three years and second location on Brickell Avenue is located in the hub of downtown Miami’s financial district. The new development solidifies Quest as the 15th largest tenant in Miami’s burgeoning business district among the ranks of Bank of America, HSBC and Florida International University.  The new center at 777 Brickell Avenue, encompassing the entire fifth floor, will feature more than 90 offices and offers flexible workspace solutions that cater to companies of all sizes from start-ups to global brands.

The SunTrust Building at 777 Brickell Avenue is a multi-use facility with business and lifestyle amenities, gourmet restaurants including Truluck’s, a beauty salon, covered parking garage, banking with ATM and 24/7 building access and security. The Energy Star labeled property is within walking distance to Mary Brickell Village and is less than 10 miles from Miami International Airport.

About Quest Workspaces

Quest Workspaces provides flexible and affordable workspace solutions to support companies of all sizes and stages. Quest offers move-in ready, executive office suites, virtual offices for home-based and mobile workers and conference/meeting rooms for hourly and daily rental. Quest features seven, state-of-the-art executive centers including: the Time Life Building at 1271 Avenue of the Americas in New York City, Espirito Santo Plaza in the heart of downtown Brickell, SunTrust Building at 777 Brickell Ave., 1200 Building in Boca Raton, 2525 Ponce de Leon in Coral Gables, the 101 Tower in downtown Fort Lauderdale and 515 N. Flagler Drive in West Palm Beach. For more information, please call 1.800.268.1051 or visit www.questworkspaces.com.

GrayRobinson Law Firm Signs 35,358 SF Lease at Wells Fargo Center

WFT_E_AD_IMG_4810FGrayRobinson, one of the fastest growing law firms in Florida with 280 attorneys and 11 offices across the state, is relocating its Miami office. Taylor & Mathis signed the firm to a long-term 35,358-square-foot lease at MetLife’s Wells Fargo Center in Downtown Miami.  The full service law firm is moving from 1221 Brickell to Wells Fargo Center in January 2015. GrayRobinson along with several other tenants are moving from Brickell to Downtown Miami—and taking up residence at Wells Fargo Center.

Brian Gale, Principal, and Ryan Holtzman, Leasing Director, both of Taylor Mathis, negotiated the long term lease on behalf of MetLife.  “GrayRobinson is the sixth tenant we have signed at Wells Fargo Center last year with new leases topping over 90,000 square feet,” stated Gale. GrayRobinson will occupy the 31st and 32nd floors of Wells Fargo Center. Gale also stated, “Wells Fargo Center, because of its location at the south side of the Brickell Bridge, has drawn a plethora of Brickell tenants across the river”.

“We explored several options in Brickell and Downtown Miami before settling on the Wells Fargo Center,” said Steven Zelkowitz, Managing Shareholder of GrayRobinson’s Miami office. “Cresa helped us navigate the landscape and balanced our short-term and long-term needs with an eye toward sustainable growth. We’re convinced we’ve found a strategic location at the Wells Fargo Center.” Barbara Liberatore Black, a Managing Principal at Cresa South Florida, represented GrayRobinson in the deal.

“It was important for GrayRobinson to establish the firm’s offices in a class A building in the urban core. Wells Fargo Center met all of the firm’s criteria,” said Liberatore Black. “GrayRobinson’s office space will facilitate the firm’s new office standards and technologies. The firm also has the ability to continue expanding at Wells Fargo Center by leasing additional space.”

“GrayRobinson is a welcome addition to the high quality tenant roster at Wells Fargo Center. The development, a long-term investment for MetLife, has attracted many of the Country’s most notable companies this year,” stated Chuck Davis, regional director of MetLife’s Tampa real estate investment office.

The law firm was attracted to Wells Fargo Center, in part, because it is attached to a world-class JW Marriott Marquis.

GrayRobinson established a presence in Miami six years ago when it retrofitted existing office space at 1221 Brickell. Although the space accommodated the firm’s needs at the time, its rapid growth—now approaching 50-plus attorneys—required GrayRobinson to seek new class A office space that mirrors its other locations and gives the firm room for future growth as it continues to expand in South Florida. GrayRobinson plans to lease temporary office space at Wells Fargo Center in January 2014 to accommodate immediate growth in its Miami office, and then move its entire legal staff to the building at the beginning of 2015.

“Our growth in Florida this year remained strong,” said Byrd F. “Biff” Marshall, Jr., President and Managing Director of GrayRobinson. “Finding quality real estate solutions in prime locations in the Florida cities we serve is vital to accommodate the needs of our clients.” The decision comes just months after GrayRobinson announced a new location in Boca Raton and recent expansions in Orlando and Ft. Lauderdale.

Wells Fargo Center is a 750,000 square foot Class A office tower located downtown one city block off Interstate 95 and south of the Brickell Bridge.  It is home to some of the most prominent and respected companies in the country, including Wells Fargo Bank, Greenberg Traurig, Deloitte, McDermott, Will & Emery and Littler Mendelson PA.  The office building shares a site with the first of its kind JW Marriott Marquis hotel and the first Hotel Beaux Arts, a new hotel of Marriott International luxury group.  Tenants benefit from the five-star amenities of the hotel, which include dining, conference facilities, an entertainment complex, fitness center, salon and spa, and the Jim McLean Golf School.  For more information, visit www.wellsfargocentermiami.com

About GrayRobinson

GrayRobinson is a full-service corporate law firm with over 280 attorneys throughout 11 offices across Florida. The firm provides legal services for Fortune 500 companies, emerging businesses, lending institutions, local and state governments, developers, entrepreneurs and individuals across Florida, the nation and the world. GrayRobinson has been named among Corporate Counsel magazine’s Go-To Law Firms for America’s 500 largest companies. Selected firms were chosen for delivering exceptional work for the Fortune 500.

100,000 Sq Ft Year-to-Date Leasing Brings Miami’s Espirito Santo Plaza to 100% Occupied

Espirito NightWith 100,000 square feet of leases this year Taylor & Mathis of Florida has brought Espirito Santo Plaza to 100% occupancy. The firm reported two new leases this month.  Anchor tenant, Fowler White Burnett, P.A. renewed their lease while Jernigan Capital LLC will move into the market signing a 2,500 square feet lease. Last month Taylor & Mathis reported a 32,000 square foot renewal & expansion by Quest Workspaces.

“The ultimate goal for a broker is to bring a building to 100% occupancy,” commented Taylor & Mathis Leasing Director Andrew Trench. “Given the flux in the market it doesn’t happen often.  It’s the equivalent to that hole in one in golf.  It is certainly easier when working with a building that has a Brickell Avenue location, exceptional management and amenities like the on-site Conrad Hotel.”

The Taylor & Mathis Miami leasing team, exclusive leasing agents for Espirito Santo Plaza, worked with co-brokers Matthew Cheezem and Matthew Goodman of Cresa to complete the Fowler White Burnett lease.  Taylor & Mathis’ Andrew Trench negotiated the Jernigan Capital deal.

Tenant renewals are key to a building’s occupancy. With a 70 year history, Fowler White Burnett is Miami’s second oldest law firm and has been an anchor tenant at Espirito Santo Plaza since the building opened in 2004.

“We are proud to announce that we are renewing our lease at Espirito Santo Plaza,” stated Fowler White Burnett Managing Shareholder, Richard Wood.  “The building is always kept in true Class “A” condition, the management is very responsive and easy to work with, and the amenities within the property make it one of a kind.  This building has been our home since its original construction, and we are excited to continue here.”

Espirito Santo Plaza is a 36-story mixed-use glass tower with 260,000 square feet of Class A office space and an attached 12-story parking garage. It is also home to The Conrad Miami, Hilton Hotel’s luxury brand, which features 203 guest rooms, a ballroom and meeting facilities and specialty retail/restaurant space. The top floors of the property consist of a health club and 116 luxury condominium residences overlooking an eleven story atrium. Located on a full city block fronting at 1395 Brickell Avenue, in the heart of Miami’s international financial market, Espirito Santo is recognizable by a dramatic 36 story concave arc symbolizing the gateway to Latin America.  http://espiritosantoplaza.com/

ARCA Capital Investments Signs Lease at Wells Fargo Center Miami

M2_E_NV_CIMG_8702Wells Fargo Center has captured its fifth tenant this year with ARCA Capital Investments, Inc., signing a 4,418 square foot lease at the downtown Miami office tower.  Taylor & Mathis reports year-to-date leasing activity at the building has exceeded 50,000 square feet.

“Interest in Wells Fargo Center has come from a diverse corporate base,” stated Taylor & Mathis’s Brian Gale, who spearheads leasing efforts for owner MetLife.  “This year we’ve leased space to a financial services firm, law firm, business school and two real estate firms – a high-end executive suite operation and a top brokerage firm.” 

Andrew Easton of Jones Lang LaSalle negotiated the lease transaction on behalf of ARCA, a wealth management financial services firm, which is relocating to downtown Miami from Miami Beach.  Ryan Holtzman of Taylor & Mathis represented MetLife.

“ARCA Capital Investments chose Wells Fargo Center as the permanent location of our offices.  We regard Wells Fargo Center as the premier office space for South Florida, and it provides the most value for the applicable lease rates.  The amenities of the office building and the adjacent JW Marriott Marquis are truly exceptional. The location, facilities and staff of both the office building and the hotel dovetail nicely with our desire to provide concierge service to the Ultra High Net Worth clients,” said Indra Campbell, President & CEO ARCA Capital Investments.

Wells Fargo Center is a 750,000 square foot Class A office tower located downtown one city block off Interstate 95 and south of the Brickell Bridge.  It is home to some of the most prominent and respected companies in the country, including Wells Fargo Bank, Greenberg, Traurig, Deloitte, McDermott, Will & Emery and Littler Mendelson PA.  The office building shares a site with the first of its kind JW Marriott Marquis hotel and the first Hotel Beaux Arts, a new hotel of Marriott International luxury group.  Tenants benefit from the five-star amenities of the hotel, which include dining, conference facilities, an entertainment complex, fitness center, salon and spa, and the Jim McLean Golf School.  For more information, visit http://www.wellsfargocentermiami.com

Global Capital Econometrix LLC, Leases Full Floor at Phillips Point

Phillips Point Taylor & Mathis has just signed two firms to 25,516 square feet of leases at Phillips Point in West Palm Beach’s Central Business District.  Dennis Hammond founder of St Louis based Harbor Capital Management is opening a new investment advisory firm in Florida.  The firm, Global Capital Econometrix, LLC has leased the building’s entire 18th floor of 14,516 square feet, announced Brian Gale, Taylor & Mathis Principal and Managing Director.  BMO Harris Bank, a tenant at the building since 1997, has signed a five year renewal for 10,000 square feet.  The transactions, valued at $8 million and $2.5 million respectively, were negotiated on behalf of the owner by the Taylor & Mathis.  The Harris Bank deal was co-brokered by Mark Pateman of Cushman & Wakefield.

“Phillips Point is the preeminent office building in the Palm Beach market,” stated Global Capital Econometrix, LLC CEO, Dennis Hammond. “With views of the Atlantic Ocean as well as the location just blocks from City Place’s retail complex and Palm Beach Island, we are looking forward to calling it home for the next 10 years.”

Phillips Point, a half million square foot office and retail complex, is located in the heart of the West Palm Beach central business district at 777 South Flagler Drive. The location provides expedient access to Palm Beach Island directly across from the entrance to the Royal Palm Bridge with Atlantic Ocean and Intracoastal Waterway views from all sides. The building is home to internationally recognized tenants including, Goldman Sachs, Morgan Stanley and Greenberg Taurig.  Among the complex’s amenities are banking, valet parking, concierge, Morton’s Steakhouse, The Phillips Point Club (a penthouse level dining club), café and sundry shop, 24-hour manned security and on-site dining.

Quest Expansion Brings Espirito Santo Plaza to 99% Leased

Espirito NightQuest Workspaces signed a 32,000 square foot renewal & expansion at Espirito Santo Plaza located in Miami’s Brickell Financial District.  The executive suite company expanded by 13,000 square feet while renewing their existing lease of 19,000 square feet bringing the office building’s occupancy to 99%.   The mixed-use property also includes the Conrad Miami Hotel and 10 floors of luxury condominiums.

“We are excited to be expanding our Brickell center at Espirito Santo Plaza. Since opening three years ago we have attracted Miami’s top companies and helped dozens of startups, but because of its popularity we have had a wait list. Adding an additional 50 offices of various sizes and configurations will allow us to accommodate all budgets and companies.” – Laura Kozelouzek, Founder and CEO, Quest Workspaces.

The Taylor & Mathis’ Miami leasing team of Brian Gale, Andrew Trench, Ryan Holtzman and Jeannette Mendoza, exclusive leasing agents for Espirito Santo Plaza, worked with co-broker Lance Benson of Newmark Grubb Knight Frank, representing Quest Workspaces, to complete the transaction.

 “We are excited about the expansion of Quest Workspaces as it is a significant sign of an improving office market, “commented Taylor & Mathis’ Andrew Trench. “The additional 13,000 square feet will allow the firm to accommodate their extensive wait list for small companies seeking high profile office space.”

Quest Workspaces provides flexible and affordable workspace solutions to support companies of all sizes and stages.  Quest offers move-in ready, executive office suites, virtual offices for home-based and mobile workers and conference/meeting rooms for hourly and daily rental.  Quest features five, state-of-the-art executive centers throughout New York and South Florida including: the Time and Life Building in New York City, Espirito Santo Plaza in the heart of downtown Brickell, 1200 Building in Boca Raton, 2525 Ponce de Leon in Coral Gables and the 101 Tower in downtown Fort Lauderdale.  For more information, please call 1.800.268.1051 or visit www.questworkspaces.com.

Foreman Friedman Expands Offices at One Biscayne Tower

Taylor & Mathis Sees Uptick in Downtown Miami Leasing Activity –Foreman Friedman, PA Signs 15,000 Square Foot Renewal & Expansion at One Biscayne Tower

One Biscayne Tower Foreman Friedman, PA, a full-service litigation and business law firm, has expanded the size of their offices by nearly 35%.  The firm signed a 15,000 square foot renewal and expansion of their offices at One Biscayne Tower, the 700,000 square foot Class A office tower located in Downtown Miami. The transaction, an eleven year deal valued at $6 million, was negotiated on behalf of the owner by the Taylor & Mathis leasing team of Brian Gale, Andrew Trench, Ryan Holtzman and Jeannette Mendoza.  The deal was cobrokered by John Marshall of CRESA Partners.

“We are definitely seeing an uptick in downtown leasing activity over the last few quarters,” said Brian Gale, Taylor & Mathis Principal and Managing Director.  Taylor & Mathis has reported thirteen deals totaling 285,000 square feet in Downtown Miami & Brickell this year.  Foreman Friedman is the third significant deal signed at One Biscayne Tower in recent months.  The office building which offers incredible views of Biscayne Bay is one of downtown Miami’s best values for office space.

For more information, visit http://www.onebiscaynetower.com

Foreman Friedman, P.A. is a full-service litigation and business law firm servicing clients from offices in Miami and Chicago. The firm represents individuals, small businesses and some of the most widely recognized corporations in the world.  Partners Jeffery Foreman and Darren Friedman were named to the 2013 “Best Lawyers in America.” For more information log on to www.fflegal.com or email info@fflegal.com.

Regus Business Centers & Manchester Business School Moving to Wells Fargo Center Miami

M2_E_NV_CIMG_8702Leasing Momentum Continues at Wells Fargo Center Miami -Regus Business Centers & Manchester Business School Lease 21,370 Square Feet

Wells Fargo Center is on a roll…..Less than a month after Taylor & Mathis announced Littler Mendelson & Studley had signed leases for 25,000 square feet, two more tenants have signed leases at Wells Fargo Center in downtown Miami. Regus Business Centers and Manchester Business School America, Inc. have signed long term leases for 16,951 and 4,419 square feet, respectively, for a combined value of over $12 million.

“For the second time this year a leading commercial real estate firm has chosen to relocate their offices to Wells Fargo Center,” stated Taylor & Mathis’s Brian Gale, who spearheads leasing efforts for owner MetLife. “We can’t think of a better testament to our assertion that Wells Fargo Center is the highest end option for office space in downtown Miami.”

Keith Edelman and Scott Goldstein of Jones Lang LaSalle co-brokered the transaction representing Regus Business Centers, the world’s largest provider of flexible workspaces.

Lance Healy of Healy Commercial Real Estate negotiated the lease transaction on behalf of Manchester Business School, which is relocating to Wells Fargo Center from Wachovia Financial Center at 200 South Brickell. Ryan Holtzman of Taylor & Mathis represented MetLife.

Wells Fargo Center is a 750,000 square foot Class A office tower located downtown one city block off Interstate 95 just south of the Brickell Bridge. It is home to some of the most prominent and respected companies in the country, including Wells Fargo Bank; Greenberg, Traurig; Deloitte; McDermott, Will & Emery; Littler Mendelson PA. The office building shares a site with the first of its kind JW Marriott Marquis hotel and the first Hotel Beaux Arts, the new super luxury hotel of Marriott International luxury group. Tenants benefit from the five-star amenities of the hotel, which include dining, conference facilities, an entertainment complex, fitness center, salon and spa and the Jim McLean Golf School. For more information, visit http://www.wellsfargocentermiami.com