Brian Gale Sees No Slowdown in Sight

The T&M Florida Miami-Dade Leasing Team Nicole Gamarra, Ryan Holtzman, Jeannette Mendoza, Andrew Trench & Brian Gale
The T&M Florida Miami-Dade Leasing Team
Nicole Gamarra, Ryan Holtzman, Jeannette Mendoza, Andrew Trench & Brian Gale

Taylor & Mathis of Florida Miami-Dade’s leasing team had another stellar leasing year in 2015.  The team, whose leasing portfolio encompasses 4.7 million square feet of office space throughout Miami-Dade as well as the trophy office tower in West Palm Beach (Phillips Point), completed 85 leases in 2015.  The leases totaled over 472,000 square feet and were valued at $138 million.  “The office market is sizzling right now,” said Taylor & Mathis Principal Brian Gale. “Rents are increasing and tenant concessions are dwindling, as space is being absorbed throughout the county. It’s a Landlord’s market. The Airport West market was the hottest of the Miami-Dade submarkets in 2015 and there is no sign of it slowing down.”

The T&M Florida leasing team includes Brian Gale, Andrew Trench, Ryan Holtzman and Jeannette Mendoza and coordinator, Nicole Gamarra. Throughout the team’s Miami-Dade portfolio in 2015, they leased 220,000 square feet of new leases, 172,000 square feet of renewals and 80,000 square feet of expansions. Most of the tenant expansions have been in the field of professional services, which include law firms, accounting firms, insurance agencies, etc. The greatest activity came from the eight building Waterford at Blue Lagoon portfolio with 167,000 square feet of leases and One Biscayne Tower with over 107,000 square feet of leases. Key lease deals throughout the team’s portfolio included:

  • 57,000 square foot lease at Waterford – Airport East Submarket (healthcare company)
  • Univision’s 40,000 square foot lease at 9250 Doral – Airport West/Doral Submarket
  • National General’s 30,000 square foot least at 6101 Waterford – Airport East Submarket
  • Broad & Cassel’s 26,000 square foot renewal at One Biscayne Tower – Brickell Submarket
  • Jackson Lewis’ 22,800 square foot renewal & expansion at One Biscayne Tower – Brickell Submarket
  • CMA CGM’s 21,000 square foot renewal & expansion at One Biscayne Tower – Brickell Submarket
  • SilverSea Cruises’ 16,300 square foot deal at Wells Fargo Center – Downtown Miami

“The key to making deals in today’s fast paced market is to try and stay ahead of the competition. If you are doing a renewal, you have to start the process early, with some hand holding. Regarding expansions, it’s important not to land lock tenants in their pursuit for additional space and with new leases, well, you have to distinguish your building from the rest and promote the amenities, which separates your building,” said Gale.  2016 is setting up to be a big year for landlord’s to push rents and absorb their vacancies.

Andrew & Brian Snag Largest Office Deal in Doral

9250 DoralUnivision Leases 40,000 SF at 9250 Doral – Largest New Office Deal in Miami’s Airport West/Doral Market

Univision, an American Spanish language broadcast television network, has signed the largest new office lease this year in the Airport West/Doral market.  The firm leased 40,000 square feet at 9250 Doral. The 12-year, $14 million deal was brokered by Brian Gale and Andrew Trench of Taylor & Mathis representing the owner Delma and co-brokers Mitchell Millowitz and Lance Benson of Newmark Grubb Knight Frank representing Univision.  Univision, who owns and fully occupies a building right across the street, is expanding their offices to 9250 Doral.

Just two years ago 9250 Doral, an outdated 1980s office building was completely vacant.  Taylor & Mathis of Florida has successfully overseen the building’s turnaround filling 88% of the office space in four deals valued at $33 million, since the building’s conversion and multi-million dollar renovation. In that time 145,000 square feet of leases have been completed with Univision; Prestige Health Choice leasing 50,000 square feet; West Coast University 45,000 square feet; and Tracfone 10,000 square feet. 

The former single tenant building recently underwent a multimillion dollar renovation by owner Delma Properties to convert the property to a multi-tenant office building.  The quality of the new interior finishes makes it feel like a brand new building.  It has great ceiling height and an excellent window line.  Two years ago, 9250 Doral’s single tenant occupant, Amadeus North America, moved out and the building became 100% vacant.  Delma Properties took the Class B building and gave it a modern, Class A renovation. “Tenants are getting a great value,” said Gale. “They love the modern renovation, the Doral location and the building’s large 50,000 square foot floor plates.”

The building’s unique design incorporating three pods with near-360 views, offers multiple tenants the ability to occupy “corner” offices. It offers 50,000 square-foot floor plates in an easy-access location, just minutes from Florida’s Turnpike on Doral’s main east-west throughway. The views of the iconic Doral Golf Resort and Spa just across the street are unparalleled. Located just a mile from Doral’s mixed-use city center, it is ideally positioned for business owners who appreciate the live-work concept. With the views of Doral golf course and the City Center just a mile away, the building is uniquely positioned to take advantage of the best of Doral. It is right in the middle of everything.  The 9250 Doral building, located at 9250 N.W. 36th Street, comprises 187,000 square feet of space with floor-to-ceiling views and reflective glass exterior.

 

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

Grass Roots America to Move to One Biscayne Tower

Performance improvement company, Grass Roots America is relocating to One Biscayne Tower in downtown Miami from offices in South Beach. The firm leased 11,000 square feet in a 10 year, $4 million deal at the downtown office tower.

One Biscayne Tower - Exterior - Side ShotGrass Roots America is part of a trend for companies upgrading their office space and/or location. “Downtown has a buzz to it right now,” said Andrew Trench, Taylor & Mathis Leasing Director, who brokered the transaction. “Companies are attracted to the artsy feel of the district with the Gusman Center for the Performing Arts and the Miami Art Museum sites nearby. Grass Roots wanted the live, work, play environment of One Biscayne Tower for their new offices which will have a modern and cool, funky vibe.” The building’s large, efficient floor plates were also a selling point. The deal was co-broker by Keith Darby of Rise Realty.

Founded in 1980, Grass Roots is an international performance improvement company. With 27 offices in 17 countries, Grass Roots partners with companies to reward, incentivize, and inspire the people with whom they work. They provide clients with guidance on with reward selection, customer service, local legislation and tax, fulfillment, business practices and culture. Grass Roots currently services more than 60 percent of the top 100 global brands, and counts among its customers BMW, VMware, Barclays Bank, Maxim and Halliburton. For more information, visit www.grassrootsamerica.com

Grass Roots America is the sixth significant deal at One Biscayne Tower in recent months several of which were law firms. One Biscayne Tower has the largest percentage of law firms in downtown and has seen a surge of leasing this year due to its proximity to the courthouse and other government offices as well as the building’s efficient floor plates and spectacular views. Taylor & Mathis has secured over 74,000 square feet of leasing at the 700,000 square foot Class A office tower this year. Leases have included Sedgwick LLP (15,000 square feet), Veritext Legal Solutions (12,000 square feet), Northwestern Mutual (10,066 square feet), Peretz Chesal Herrman (6,200 square feet), Young, Bill, Roumbos & Boles, P.A. (5,000 square feet) and the 15,000 square foot renewal and expansion of Foreman Friedman. 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

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.

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/

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.

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.

Wells Fargo Bank Renews at Espirito Santo Plaza

Espirito Night

Wells Fargo Bank renewed their lease of 8,000 square feet for five years at Espirito Santo Plaza.  The Taylor & Mathis’ Miami leasing team of Brian Gale, Andrew Trench and Ryan Holtzman, exclusive leasing agents for Espirito Santo Plaza handled the lease,  Michael Wilson from CBRE was the co-broker representing Wells Fargo Bank. The signature office tower remains 95% occupied.

Espirito Santo Plaza is a 36-story mixed-use glass tower with an attached 12-story parking garage and 260,000 square feet of Class A office space. The Conrad Miami — Hilton Hotel’s luxury brand — features 203 guest rooms, a ballroom and meeting facilities and specialty retail/restaurant space. The top floors of the property consist of a fully equipped health club and 116 luxury condominium residences overlooking the soaring 11 story atrium.

Located on a full city block fronting at 1395 Brickell Avenue, in the heart of Miami’s international financial market, Espirito Santo Plaza’s main tower designed by KPF welcomes visitors with a dramatic 36 story concave figural arc symbolizing the gateway to Latin America.  http://espiritosantoplaza.com/

Taylor & Mathis Secures 32,000 Square Feet of Renewals at Espirito Santo Plaza

Espirito NightThe Signature Office Tower Remains 95% Occupied

Taylor & Mathis has finalized two deals comprising 32,000 square feet of lease renewals at Espirito Santo Plaza. The renewals place the sculptural glass tower on Brickell Avenue at 95 percent leased.

International law firm, Weil, Gotshal & Manges LLP, the second-largest tenant in the building, renewed its lease for 24,381 square feet in a seven-year deal.  The Taylor & Mathis’ Miami leasing team of Brian Gale, Andrew Trench and Ryan Holtzman, exclusive leasing agents for Espirito Santo Plaza handled the lease, working directly with Weil. The New York-based law firm has been a tenant at Espirito Santo Plaza since 2001.

“As one of the original tenants of the building and one of the most recognizable names in the legal industry, it was only natural for us to work with them to extend their lease term at Espirito Santo Plaza, “said Taylor & Mathis’ Andrew Trench. “Espirito Santo Plaza is a magnificent property recognized both as a signature among the Miami skyline and as the Miami headquarters of such a prominent law firm.”

Legg Mason Global Asset Management renewed their lease of 7,780 square feet for an additional five years. The lease was co-brokered by Alan Kleber & Matt Cheezem of CRESA.   Legg Mason is one of the largest asset management firms in the world, serving institutional and individual investors on six continents. For more information, visit http://www.leggmason.com.

Less than 5 percent of the office space remains available at the mixed-use property that also includes the Conrad Miami hotel and 10 floors of luxury condominiums.

Espirito Santo Plaza is a 36-story mixed-use glass tower with an attached 12-story parking garage and 260,000 square feet of Class A office space. The Conrad Miami — Hilton Hotel’s luxury brand — features 203 guest rooms, a ballroom and meeting facilities and specialty retail/restaurant space. The top floors of the property consist of a fully equipped health club and 116 luxury condominium residences overlooking the soaring 11 story atrium.

Located on a full city block fronting at 1395 Brickell Avenue, in the heart of Miami’s international financial market, Espirito Santo Plaza’s main tower designed by KPF welcomes visitors with a dramatic 36 story concave figural arc symbolizing the gateway to Latin America.  http://espiritosantoplaza.com/