Global risk management and insurance firm AON Group has renewed its lease for 38,000 square feet at Brickell Bay Office Tower, marking the largest transaction completed in the Brickell office market so far this year.
AON Group, which maintains its position as Brickell Bay Office Tower’s anchor tenant, has called the class A building home for more than 13 years. The firm will retain top-building signage rights at the 32-story, 280,500-square-foot tower.
News of the AON Group transaction continues a steady string of signed leases at Brickell Bay Office Tower. The building’s management team has announced new leases and renewals totaling more than 135,000 square feet in the past year, keeping the building’s total office occupancy at 91 percent, well above the Downtown Miami/Brickell market average of 78 percent.
Christian Driussi, vice president for Brickell Bay Office Tower, represented the building’s ownership in the transaction; AON Group was represented by Chris Coots, senior vice president with CB Richard Ellis.
“While Brickell Bay Office Tower has succeeded at drawing new users amidst market volatility, we emphasize the importance of tenant renewals above all else,” said Driussi. “AON’s decision to remain in place sends a strong message that a well-managed building boasting stable ownership and a premium location can compete directly for blue chip tenants with newer assets in the market. This is a ‘big win’ for our team.”
In addition to the AON Group transaction, the past year has seen Brickell Bay Office Tower complete leases with the British Consulate, Vector Global Wealth Management Group, Right Space Management Inc., Syntel Inc., Hiscox Inc., Trans American Equity Partners LP, Lustrous Metals, Bancard Financial Services LLC, 1st United Bank, The Hackett Group Inc., Newmark Southern Region LLC (a subsidiary of Newmark Knight Frank), law firm Fuerst and Ittleman PL, Taplin Canida & Habacht Inc., and Conitex Sonoco Inc. Additional tenants include Mallah Furman & Company, Morrison Brown Argiz & Farra LLP, and law firm Cantor & Webb.
In acknowledging that AON Group evaluated potential relocation opportunities, Driussi cited a number of factors contributing to Brickell Bay Office Tower’s ability to lure and retain tenants.
“Among Brickell Bay’s greatest assets are its unobstructed views of Biscayne Bay, waterfront location in the Brickell Financial District, luxury amenities, and committed ownership team. These factors, coupled with the strength of our tenant base and AON’s exposure with top-building signage, set us apart from the competition and put us in great position to retain our largest tenant,” Driussi said.
A series of capital improvements now underway will ensure Brickell Bay Office Tower maintains its appeal. The building’s elevator corridors and hallways were upgraded last year, and there are plans to overhaul the tower’s elevator system this year.
Located at 1001 Brickell Bay Drive, in the heart of Miami’s Brickell Financial District and directly overlooking Biscayne Bay, Brickell Bay Office Tower offers floor plates ranging from 10,896 to 18,622 square-feet. Amenities include an on-site bank and ATM, a lobby cafe, covered parking, a car wash service, and 24-hour manned security.
Learn more at the building’s website, www.1001brickellbay.com, or by calling the leasing team at 305-536-1001.