Swire Properties Announces One Brickell City Centre, Miami Office Space Market Gaining Steam

Despite all of the new development that Miami is currently experiencing, the rising population and the city's ability to attract new companies has put a strain on the supply of office space according to Guy Bradley, CEO of Swire Properties. Enter the next phase of Swire Properties's Brickell City Centre initiative, One Brickell City Centre, which is slated to break ground in 2018 and take advantage of an office market that is gaining steam. One Brickell City Centre will rise 1,049 ft, covering 80 floors, making it the tallest building in the Southeastern United States. The building is designed by Arquitectonica. Over 50% of the proposed project will be office space. On the same earnings call, Bradley touted the success of Brickell City Centre's retail portion, which is over 91% leased. This comes at a time when Swire Properties has seen condo sales in Brickell City Centre's Rise and Reach buildings come to a grinding halt, with just 4 units going under contract since mid-February.