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.

 

We Love to See Our Tenants Grow!

355Congratulations to two of our 355 Alhambra tenants on their growth.  The Navigators Group, Inc and Catalyst Pharmaceuticals have doubled the size of their offices at the Coral Gables landmark building.

The Navigators Group, Inc. an international specialty insurance holding company recently signed a 7,500 square foot renewal & expansion. Navigators has offices in the United States, the United Kingdom and Continental Europe, as well as representative offices in China and Brazil.  Thanks to co-brokers Scott Goldstein & Keith Edelman of Avison Young for bring the deal to the building.

Catalyst Pharmaceuticals, a biopharmaceutical company focused on developing and commercializing innovative therapies for people with rare debilitating diseases, signed a 5,300 square foot renewal and expansion.  Thanks to Matt Cheezem & Will Morrison of CRESA who represented Catalyst in the deal.

The award-winning 355 Alhambra, this year’s BOMA Regional Office Building of the Year, has a historically high retention rate with renewals & expansions driving its recent leasing success.  Owned by AEW Capital Management (AEW) it is leased and managed by the Taylor & Mathis’ Miami leasing team of Brian Gale, Ryan Holtzman, Andrew Trench and Jeannette Mendoza. “We have some incredible leasing opportunities at the building,” said Gale.  “The entire 14th floor is available for lease. We can accommodate deals as small as 1,200 square feet up 23,923 square feet.”

355 Alhambra has been named Outstanding Office Building of the Year from 2005 to 2015 by the Building Owners and Managers Association (BOMA) of Miami-Dade, and in 2013/2015 by the BOMA Southern Region. 355 Alhambra located in downtown Coral Gables received LEED Silver Recertification earlier this year.

One Biscayne Tower Views Drive 75,000+ SF of Renewals & Expansions

One Biscayne Tower - Exterior - Side ShotLaw 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.”

One Biscayne View-2x11

 

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

Synergy Workspaces Opens First Location at One Biscayne Tower

image001Synergy Workspaces, a new, upscale premier business center, is coming to downtown Miami leasing the entire 32nd floor (26,144 square feet) at One Biscayne Tower on Biscayne Blvd. The first of several Synergy Workspaces planned for South Florida celebrated its grand opening April 30th. The newly formed company is owned and operated by the Grant family who has been operating business centers in New York since 1998.

The transaction, a 14 year deal valued over $13.5 million, was negotiated on behalf of the building owner by Brian Gale and Ryan Holtzman of Taylor & Mathis.  The deal was co-brokered by Carlos Rosero of Green Point Partners who will lead the Synergy sales team.

“We are very enthusiastic about entering the Miami shared workspace market and servicing our members with the tools they need to succeed. We are very impressed with the growth of the Miami commercial real estate market and look forward to participating in the success of this great city.” Ron Grant.

Synergy provides companies, including startups, with the space, infrastructure, and support staff they need to operate their businesses with very little startup costs. The business center boasts 6 conference rooms with state of the art technology, a shared reception area, a dining café, and expansive common areas for members to collaborate. The center also offers over 100 furnished private suites with modern office finishes. The private suites are offered in many different sizes and configurations to meet the needs and the budgets of businesses of any size. They support a variety of industries including financial, legal and technology industry among others. Their clients will include national and international firms, which require local satellite offices, companies whom require short-term space, startups, and many others. The center also offers an uninterrupted power source to ensure that computer systems that should not go down won’t go down, in the event of any interruption of power. The space features panoramic and unobstructed views of Biscayne Bay as well as Brickell, Miami Beach, and the rest of the Miami Skyline.  www.synergyworkspaces.com

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 brand new space,” stated Brian Gale, Taylor & Mathis Principal and Managing Director. 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.

FTI Consulting Leases 17,000 SF at One Biscayne Tower

Global Advisory Firm Relocates to One Biscayne Tower

One Biscayne Tower - Exterior - Metrorail Night ShotFTI Consulting, Inc. (NYSE: FCN), a global business advisory firm, has moved from Miami Center to One Biscayne tower leasing 17,000 square feet at the 39-story, 700,000 square foot Class A office tower located in Downtown Miami. The transaction was negotiated on behalf of the owner by Brian Gale and Ryan Holtzman of Taylor & Mathis.  The tenant was represented by Tony Jones of Cushman & Wakefield.

“The office market is on fire and leasing velocity at One Biscayne is still picking up steam,” according to Ryan Holtzman, Taylor & Mathis Leasing Director.  “We completed over 110,000 square feet of deals in 2013 and we were close to surpassing those numbers in 2014.” The office building which offers incredible views of Biscayne Bay is one of downtown Miami’s best values for office space.

One Biscayne Tower recently underwent renovations to the common areas with the vacant spaces and tenant corridors getting all new build outs with new common area finishes and lighting.  “It looks like brand new space,” stated Brian Gale, Taylor & Mathis Principal and Managing Director. 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 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.

FTI Consulting, Inc. is a global business advisory firm dedicated to helping organizations protect and enhance enterprise value in an increasingly complex legal, regulatory and economic environment. With more than 4,200 employees located in 26 countries, FTI Consulting professionals work closely with clients to anticipate, illuminate and overcome complex business challenges in areas such as investigations, litigation, mergers and acquisitions, regulatory issues, reputation management, strategic communications and restructuring. The Company generated $1.65 billion in revenues during fiscal year 2013. For more information, visit www.fticonsulting.com

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

Brian & Team Sign 12th Largest Private Company on Forbes List to 16,000 SF at Phillips Point

Phillips Point 3

Reyes Holdings signed a lease for 16,000 square feet in the Class A Phillips Point office complex in West Palm Beach. Reyes Holdings will take the 15th floor in the west tower. Plans are to be in the space by Jan. 1, said Jones Lang LaSalle vice president Kevin McCarthy, who represented Reyes in the deal. Taylor & Mathis Principal Brian Gale represented the owner. McCarthy said the Phillips Point office suite, with its sweeping water views, will be used for “C-level” people — in other words, chairmen, chief executive, chief financial officer or chief operating officer. Some of these top-level people spend winters in Palm Beach County, McCarthy said. The views from the 15th floor knocked their socks off, McCarthy added. The space features perimeter offices with glass walls, offering unobstructed water vistas.

 

 

Brian Gale Seeing More New to Market Tenants Today Than in Past 22 Years

WFT_E_AD_IMG_4810FTaylor & Mathis has executed four new leases at MetLife’s Wells Fargo Center in downtown Miami two of which were new to market tenants.  The 47-story tower will soon be home to Dentmall of Florida, Moto Capital, Berkadia Commercial Mortgage and La Prairie Group.  The firms have leased 13,402 square feet at the building.  Earlier this year, PwC moved its office from Brickell Avenue and leased 43,277 square feet at the downtown tower.  Brian Gale, Principal and Ryan Holtzman and Andrew Trench, both Leasing Directors with Taylor Mathis, negotiated the leases on behalf of MetLife.

According to Taylor & Mathis Principal Brian Gale, “We are seeing more new to market tenants today than I’ve seen in the 22 years I’ve been leasing space in downtown Miami.”

Dentmall of Florida, Inc. a new to market tenant, leased 4,598 square feet.

Also new to market is Brazilian Hedge Fund Moto Capital who will be opening their first U.S office at Wells Fargo Center Miami.  The company represented by co-broker Tony Jones of Cushman & Wakefield leased 3,500 square feet.

Berkadia Commercial Mortgage represented by co-broker Ryan Levy of Cushman & Wakefield leased 2,667 square feet.

La Prairie Group is upgrading their office space, relocating from New World Tower to 2,637 square feet at Wells Fargo Center. The luxury skincare company was represented by Tony Jones of Cushman & Wakefield.

PwC Leases 43,277 SF at Wells Fargo Center in Downtown Miami

PwC US Signs 13-year Lease to Occupy New Office in Downtown Miami – Firm Eyes Growth and Changing Workplace Model with Move of 300+ Employees 

WFT_E_AD_IMG_4810FPwC US  has made a major commitment to the region by signing a 13-year lease with MetLife, Inc. for 43,277 square feet at the Wells Fargo Center in downtown Miami. Approximately 300 PwC partners and professionals will make their move into the Gold LEED-certified building located at 333 SE 2nd Avenue in February 2015.

Taylor & Mathis Partner Brian Gale negotiated the lease on behalf of the landlord, MetLife.  PwC was represented by co-brokers Gregg Middelton and Carter Hopkins of CBRE. “We are ecstatic to add another top notch firm to our tenant roster at Wells Fargo Center” said Gale. “This is the second credit tenant moving from Brickell Avenue to Wells Fargo Center in Downtown Miami in the last 4 months. Wells Fargo Center has leased over 150,000 square feet of new leases in the last 16 months.”    In January Gale announced a 35,358 SF lease for GrayRobinson at Wells Fargo Center.

In addition to signaling its faith in an exciting and thriving part of downtown Miami, PwC sought out the building to accommodate its future growth plans. The professional services firm is optimistic about its long-term growth prospects in the market and intends to increase its employment in order to continue its strong growth trajectory in South Florida.

“PwC has a longstanding history of serving companies in the greater Miami area, and we’re looking forward to continuing that legacy,” said Mario de Armas, managing partner for PwC’s Florida market. “We continue to see an increased demand for our assurance, tax and consulting services, and we’re optimistic about our future employment and the growth of our business here. We also plan to continue our work in the community, with a focus on helping local schools and organizations improve education and financial literacy.”

The office will be equipped with state-of-the-art technology, including the latest media sharing and collaboration tools. De Armas noted that the layout of the new space will enhance team collaboration and knowledge sharing, cater to the mobile worker and aid in client service delivery.

“As our business and the businesses of our clients continue to evolve, we recognize that technology and the workforce of the future will change the way we work,” added de Armas. “The new office design reflects this, emphasizing teaming, personal flexibility and efficiency.”

The firm is committed to reducing its carbon footprint and will have the new space built with energy efficiency in mind. Sustainable materials and furnishings will be utilized throughout the space and PwC will strive for LEED certification when the build-out is complete.

“MetLife is excited to welcome such a high caliber firm as PwC to Wells Fargo Center.  As one of MetLife’s premier developments and long-term investments, the Wells Fargo Center continues to attract many of the country’s most prominent companies,” stated Chuck Davis, Director and Head of the MetLife Southeast Regional Office.

The 47-story Wells Fargo Center features scenic views of Biscayne Bay and Miami’s skyline and offers PwC a number of significant benefits, including a fitness center and restaurants. The center is also adjacent to a four-star hotel, which includes an entertainment complex, salon and spa, and shopping.