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

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.

777 Brickell Keeps Hencorp Beckstone for 20,000 SF Renewal

777 Brickell

Taylor & Mathis’ Andrew Trench has signed Hencorp Beckstone (www.hencorp.com) to a 20,000 square foot renewal at 777 Brickell in Miami’s Brickell Financial District.  The financial services firm conducted an extensive search for space before deciding to stay at 777 Brickell.  “While their search extended to some of the new office space on the market they ultimately chose to stay at 777 Brickell,” according to Trench.  “Newer isn’t always better.  777 Brickell is a prestigious office building, impeccably maintained with class A finishes.”  The ten year lease is valued at $7.5 million.  The deal was co-brokered by William Holly of Pointe Group Advisors.

Andrew Trench Closes Two Deals at 777 Brickell

777 BrickellLeasing Director Andrew Trench has closed two deals at 777 Brickell in Miami’s Brickell Financial District for 10,255 square feet.  Saglo Development Corporation, represented by Grant Killingsworth of Jones Lang LaSalle, leased 3,022 square feet while Everest Reinsurance, represented by Ryan Ackerman of CBRE, signed an expansion and renewal for 7,233 square feet.