CP Group is steadily touchdown extra tenants for its 38-story workplace tower in downtown Miami. The agency secured two leases totaling 46,000 sq. toes at One Biscayne Tower.
The transactions embrace a brand new 26,000-square foot lease for shared workspace supplier Quest Workspaces and a renewal of transportation and transport firm CMA CGM Group’s 20,000-square-foot lease. Newmark’s Lance Benson represented Quest Workspaces, whereas Jeremy Hakala and Clay Sidner represented CMA CGM Group.
The Class A workplace tower at present has floorplates starting from 11,500 to 52,000 sq. toes open for leasing. One Biscayne Tower’s facilities embrace a health middle, a parking storage, electrical automobile charging stations and on-site retail. The constructing additionally earned its LEED Gold and Wired certifications.
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CP Group continues to be engaged on its multimillion-dollar capital renovation program that can see enhancements to the constructing’s exterior, upgrades to the present on-site cafe, foyer, health middle and tenant flooring. The agency can be planning so as to add a convention middle to One Biscayne Tower.
Bullish on downtown Miami’s workplace sector
CP Group acquired One Biscayne Tower greater than a 12 months in the past in June 2021 together with funds managed by Rialto Capital Administration and Sabal Capital Companions. The companions acquired the Miami workplace tower for $225 million. The property was 65 % leased on the time.
Since then, the homeowners additionally leased two full flooring totaling 51,000 sq. toes to Royal Caribbean on the finish of 2021. Together with Quest Workspaces’ new lease, One Biscayne Tower is now 77 % occupied, with different tenants together with Suffolk Development, Stantec Structure and Nelson Mullins.
John Osborne, senior vice chairman at CP Group, stated in ready remarks that the agency acknowledged the chance to land top-tier tenants in downtown Miami with top quality facilities and a robust location. Osborne added in his ready assertion that CP Group is anticipating to see continued curiosity in One Biscayne Tower and all the agency’s different downtown Miami property.
In addition to One Biscayne Tower, CP Group owns a number of different workplace properties in downtown Miami. The agency acquired the 636,000-square-foot Miami Tower together with DRA Advisors for $163.5 million in July. CP Group’s portfolio additionally contains the 810,000-square-foot Citigroup Middle, the greater than 1 million-square-foot The Touchdown at MIA and the 440,000-square-foot SunTrust Worldwide Middle, all in downtown Miami.
