Miami's 1450 Brickell Office Tower Completes 5 New Leases Totaling 19,500 Square Feet of Class A Space
Swiss Re America, Longchamp USA, H.J. Heinz Company & MDR Americana become building's newest tenants, while Catlin Insurance expands its current office space. Rilea Group's class A office tower reaches 77% occupancy after leasing a total of 131,396 rentable square feet of space in 2011.
- Miami, FL (1888PressRelease) February 04, 2012 - In another sign that Miami's 1450 Brickell is the office tower of choice among corporate and multi-national companies seeking to establish and expand their presence in South Florida and the Americas, the class A building has finalized five new leases with leading global reinsurer Swiss Re America Holding Corporation; luxury leather goods supplier Longchamp USA, Inc.; private equity investment firm MDR Americana, LLC; food manufacturer H.J. Heinz Company; and London-based insurance provider Catlin Insurance Company, Inc. The leases account for roughly 19,500 rentable square feet of office space, bringing 1450 Brickell's total occupancy to about 77% leased. Catlin Insurance's lease represents an expansion of the company's original lease at the office tower earlier this year. Financial terms of the agreements were not disclosed.
Tere Blanca and Danet Linares of Blanca Commercial Real Estate represented landlord 1450 Brickell, LLC and Rilea Group in the transactions; Randy Olen of Colliers International South Florida represented Swiss Re America; Joe Abood of Colliers International South Florida represented Longchamp USA; Helena Gonzalez and Maurizio Oronzo of Avanti Way Realty represented H.J. Heinz Company; and Mark Coffey of Bailes & Associates represented Catlin Insurance.
"2011 was a banner year for 1450 Brickell. In just 21 months since delivering to market, the building has leased 77 percent of its total square footage to just over 40 tenants - an impressive feat in a recovering office market," said Tere Blanca, President and CEO of Blanca Commercial Real Estate. "We attribute this success to the building's superior location on Brickell Avenue, exceptional design and construction quality, strong ownership, and its tenant roster, which continues to draw leading firms from around the world. These factors have cemented 1450 Brickell's standing as the market's premier business address, and keep us in strong position headed into the new year."
The new batch of leases at 1450 Brickell continues a steady string of activity that saw the tower complete leases totaling 131,396 rentable square feet of class A space in 2011. The transactions drew a healthy mix of major corporate users, locally-based firms, and new-to-market tenants, including American Express, Bancaja, Bank of New York Mellon, BBVA Compass, law firm Berger Singerman, Big Sur Partners, Cipher Security, Emerging Managers, Endurance US Holdings, Forrestal Capital, GEF Group Services, Gentrust Wealth Management, Key Consulting Services, Mora Wealth Management, Museotec, and Willis of Florida.
"With several transactions in the pipeline at 1450 Brickell, we are getting closer and closer to reaching full occupancy - we are expecting to be 91 percent leased by the end of first quarter 2012," said Danet Linares, Executive Vice President of Blanca Commercial Real Estate. "This consistent lease activity is a positive sign of things to come this year as the economy strengthens and the commercial real estate market gains momentum in 2012."
Among the key factors driving tenants interest in 1450 Brickell is the building's convenient location within walking distance of dozens of retail businesses, restaurants, residential towers and high-end hotels, as well as Miami's Metromover and Metrorail public transit systems which provide transportation throughout Downtown Miami. Tenants are also drawn to the building's location away from the Miami River, affording them and their visitors the conveniences of the Brickell Financial District without the traffic headaches spawned by the bridges spanning the River.
1450 Brickell also stands out for its modern design features, LEED Gold certification and superior construction quality. The building is fabricated with above code large-missile impact glass from top-to-bottom, making its exterior curtain wall window system one of the nation's strongest. The tower also sports an above code backup generator that can power tenants' basic electric needs during outages.
Designed by Miami-based architectural firm NBWW & Associates and constructed by Coastal Construction, 1450 Brickell offers panoramic views of Biscayne Bay, Brickell Avenue and the City of Miami, top-of-the-line finishes, floor-to-ceiling windows and wide-open floor pates ranging in size from 24,000 square feet to 25,600 square feet, maximizing the flow of natural light throughout tenant areas.
To learn more, please visit www.1450Brickell.com. For leasing information, contact Tere Blanca or Danet Linares of Blanca Commercial Real Estate at (305) 577-8850.