By Allie Schwartz
1450 Brickell Avenue, the premier “class A” office building in Miami’s Brickell Financial District, has finalized leases with financial services firm BNY Mellon, executive recruitment firm Korn/Ferry International, investment banking firm BroadSpan Capital and commercial reinsurance company International Broking Solutions. The new lease agreements total a combined 26,045 square feet of office space, bringing the total amount of space leased at 1450 Brickell to more than 226,000 square feet. 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. Alan Kleber and John Marshall of Cushman & Wakefield of Florida represented Korn/Ferry International, which will relocate from Wachovia Financial Center. BNY Mellon, which is relocating from Sabadell Financial Center, was represented by Jones Lang LaSalle. Bill Cutler of Colliers Abood Wood-Fay represented BroadSpan Capital. The other transaction did not involve co-brokers. The latest tenant relocations to 1450 Brickell are indicative of the “flight to quality” underway in the South Florida office market, according to Tere Blanca, president and CEO of Blanca Commercial Real Estate. “As companies increasingly seek to align their real estate decisions with their business goals, the Miami office market is witnessing a ‘flight to quality’ driven by office users looking to upgrade their occupancy to assets offering financial stability and ownership strength, superior location, efficient floor plates with panoramic views, advanced construction quality and premium finishes,” Blanca said. “1450 Brickell stands out in each of these categories.” The BNY Mellon, Korn/Ferry International, BroadSpan Capital and International Broking Solutions leases follow two of the largest office market transactions of the past 12 months in Miami — the Bilzin Sumberg law firm’s decision to take 80,000 square feet at 1450 Brickell and private investment firm H.I.G. Capital’s 39,000-square-foot lease. Factors driving tenant traffic to 1450 Brickell include the building’s panoramic views, location within walking distance of more than 30 retail businesses, restaurants and high-end hotels, and close proximity to Miami’s Metromover, which provides transportation throughout Downtown Miami. Tenants also are 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 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 electrical needs during outages. 1450 Brickell is a 35-story, 582,817 square-foot “class A” office tower in the Brickell Financial District. The building includes both commercial office and retail space and is located in one of the city’s least congested areas, offering convenient in-and-out access, as well as sweeping views of Biscayne Bay. To learn more, visit online at www.1450Brickell.com.
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