701 Brickell. Picture courtesy of Cushman & Wakefield
Regulation agency Holland & Knight LLP has signed a 121,032-square-foot lease renewal at Nuveen Actual Property’s 701 Brickell in Miami. Cushman & Wakefield brokered the deal on behalf of the owner, whereas CBRE represented the tenant.
Holland & Knight will proceed to occupy six flooring of workplace house on the 33-story tower. Nuveen acquired the Class A property in 2002 for $172 million, in response to CommercialEdge info.
A 96 percent-leased Miami workplace property
Located on Brickell Avenue whereas additionally fronting Biscayne Bay, the LEED Gold-certified and Vitality Star-rated constructing options environment friendly floorplans, a newly renovated foyer, a convention facility and a health heart, in addition to coated parking and on-site café. Moreover, the workplace tower holds a central place in Miami’s Brickell monetary and tech neighborhood, with quick access to 31 completely different transit routes.
Cushman & Wakefield has been managing the leasing operations at 701 Brickell on behalf of Nuveen since April 2019. Final yr, the owner secured leases amounting to a complete of 71,292 sq. ft by means of 9 transactions. Presently, the constructing has a 96 p.c occupancy fee; Financial institution of America, Merrill, EFG Capital, Van Holland Group and DRA Advisors are amongst its tenants.
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Cushman & Wakefield Vice Chairman Brian Gale and Senior Director Edward Quinon represented Nuveen Actual Property. CBRE Vice Chairman Todd Lippman and Senior Vice President Shay Pope assisted the legislation agency within the negotiations.
Earlier this yr, the identical Cushman & Wakefield brokers represented Metropolitan Life Insurance coverage Co. in a 101,000-square-foot lease on the Wells Fargo Heart constructing in downtown Miami. In response to the newest CommercialEdge report, as of Could, the Miami workplace market had an general emptiness fee of 11.8 p.c.
