Eighteen Sunset Achieves Full Occupancy in Miami Beach’s Thriving Office Market

Eighteen Sunset, a highly anticipated mixed-use boutique development in Miami Beach’s Sunset Harbour neighborhood, has achieved full occupancy for its premium office spaces. The 17,708 square feet of Class A+ office space has been fully leased, highlighting the surging demand for luxury work environments in Miami Beach.

Colliers, led by Vice Chair Stephen Rutchik, managed the leasing process on behalf of the landlords, Deco Capital Group and RWN Real Estate Partners. CBRE’s Executive Vice Presidents Jeff Gordon and Barbara Black represented the tenants in the transactions.

The property has attracted a carefully curated mix of tenants, including a globally recognized private equity firm and luxury lifestyle brand Audemars Piguet. Both organizations were drawn to Eighteen Sunset’s unique blend of high-end design, waterfront views, and proximity to Miami Beach’s dynamic cultural and business hubs.

Developed by Deco Capital Group and constructed by Origin Construction, Eighteen Sunset is located at 1759 Purdy Avenue, offering tenants direct access to Maurice Gibb Park, the Sunset Harbour Marina, and upscale dining and retail options. Its strategic location combines proximity to Miami Beach’s active community with unobstructed views of the Intracoastal Waterway and Venetian Islands.

Stephen Rutchik of Colliers emphasized the property’s role in meeting modern workspace needs: “Eighteen Sunset represents the future of workspaces in Miami Beach. Its boutique design, unmatched amenities, and premier location reflect the evolving preferences of businesses seeking more than just office space.”

Slated for completion later this year, Eighteen Sunset is poised to set a new benchmark for elite office environments in Miami Beach’s competitive real estate market.

Global Law Firm Reed Smith Signs 22K SF Lease at Southeast Financial Center in Downtown Miami

JLL has announced that Reed Smith, an international law firm placed in The American Lawyer's AmLaw 50, has leased 22,495 square feet of office space on the 26th floor of Southeast Financial Center, downtown Miami’s premier office tower. The law firm, previously located in Brickell, is relocating to downtown as it seeks to expand its presence in Miami.

Reed Smith was represented by Barbara Liberatore Black, Managing Director of JLL South Florida, and Jeff Gordon, Executive Vice President. On the agency leasing side, Eric Groffman, Managing Director, and Cameron Tallon, Senior Vice President, represented the building’s ownership, Ponte Gadea Biscayne.

Reed Smith, which established its Miami presence in 2017, has 30 offices worldwide. The firm’s Miami office is home to lawyers whose practices focus on commercial disputes, entertainment and media, finance, insurance recovery and international arbitration. The Miami team also has deep connections to clients across Latin America.

“In the four years since establishing a presence in Miami, we have built a formidable team with strong relationships within the region’s business and legal communities and the state and local government, while also advising domestic and global companies currently or seeking to do business in South Florida,” said Constantine Karides, managing partner of Reed Smith’s Miami office.  “As a result, when considering relocation, we prioritized a space that allowed for continued and sustained growth and served as a physical representation of Reed Smith’s reputation in the market – thriving, soaring, energetic, and well-connected.  Southeast Financial Center met each of those criteria and I speak for all of my Miami-based colleagues in expressing our excitement in making the move.”

Situated in the heart of downtown Miami’s Central Business District, Southeast Financial Center has a total of 1.2 million square feet, making it the city’s tallest and largest office tower. The property is comprised of a 55-story office tower and features a 30,000-square-foot outdoor plaza, complete with beautiful landscaping, seating area and café and dining options. The tower also sits across from the city’s free Metromover and less than a mile from I-95, making it one of downtown’s best-connected office buildings.

“Miami continues to see an influx of businesses relocating or expanding here, with Southeast Financial Center being one of the most sought-after office addresses,” said JLL’s Eric Groffman. “Southeast Financial Center is the tower of choice because it puts its tenants door-to-door with some of the city’s leading financial and professional services firms and provides access to residential towers, major retail lifestyle destinations and numerous cultural and performing venues.”

By Katya Demina

Leading Venture Capital Firms Founders Fund And Atomic Sign 10-Year Leases At Wynwood Annex

Miami’s push to attract the tech industry continues in hyperdrive as leading venture capital firms Founders Fund and Atomic have signed 10-year leases at Wynwood Annex. OpenStore, an e-commerce joint venture between Founders Fund and Atomic, has also signed a 5-year lease for space in Wynwood Annex. The leases total over 22,000 SF and asking rents were $57 PSF at the time of lease. The deal was overseen by Tony Arellano of DWNTWN Realty Advisors, who represented the landlord, and Matthew Goodman, Adam Bernstein and Jeff Gordon of JLL, who represented the lessee’s.

Wynwood Annex is located at 215 NW 24th St. and spans 65,000 SF over 8-stories. The property was completed in 2019 and was developed by Related Group and East End Capital. Wynwood Annex features 60,000 SF of office space and 5,000 SF of ground floor retail space.

Founders Fund is led by PayPal co-founder Peter Thiel and was formed in 2005. The firm currently has more than $6 billion in aggregate capital under management and invests across all stages and sectors, including aerospace, artificial intelligence, advanced computing, energy, health, and consumer Internet, with a portfolio that includes Airbnb, Lyft, Spotify, Stripe, and Oscar Health. Founders Fund was the first institutional investor in SpaceX and Palantir Technologies, as well as was an early investor in Facebook.

Atomic is a startup studio and investment fund led by Jack Abraham. The firm was founded in 2012 and has co-founded over 18 companies including Hims, Bungalow, Homebound, Paravision, Raydiant and TalkIQ.

Family On Demand Senior Assistance Platform Papa Inc. Signs Lease For The Brickell Building

Papa, Inc., a leading technology-enabled platform that provides a service to assist older adults & families, has signed a lease for their new headquarters and will consolidate and relocate to The Brickell Building, located in the heart of Miami’s Financial District. Co-Founder of DWNTWN Realty Advisors, Tony Arellano P.A., has arranged a lease on behalf of the Brickell Building with Papa, Inc. who was represented by JLL’s Jeff Gordon and Matthew Goodman.

“This new headquarters for Papa underscores the ongoing evolution of office space,” Arellano said. “The lease is also a case study for the business models of office users are adjusting to the new dynamic of office requirements.”

Papa’s new headquarters in The Brickell Building will be 11,420 sq.ft. and will be occupied by only executive staff and offer rotating office needs. The company will utilize a working-from-home strategy for non key executives that proved to be successful throughout the pandemic. This strategy will reduce their office footprint that used to be over 25,000 sq.ft. 

Papa was founded in 2017 by Andrew Parker and specializes in “family on demand” assistance for seniors. The service helps older people remain living independent and securely at home. It offers in-person assistance and now has adapted to also offer virtual assistance through the pandemic. Papa’s new headquarters will be located at 66 SW Sixth Street. 

City National Bank & UBS Lease 142,000 SF Of Office Space Valued At $75.1 Million At Miami Tower

City National Bank of Florida and UBS have inked deals to lease 142,000 SF of office space valued at $75.1 million at Miami Tower, a 47-story, landmark office skyscraper at 100 SE Second St. in Downtown Miami. The leases bring Miami Tower to 94% occupancy, outpacing Downtown Miami Class A office space market. The transactions were overseen by Transwestern’s South Florida Agency Leasing Team with Transwestern Managing Director Glenn H. Gregory and Vice President Christopher Dubberly provide leasing services on behalf of Miami Tower ownership.

City National Bank, the third-largest Florida-based bank, signed a long-term lease renewal and 57,000 SF expansion for a total footprint of 105,000 SF at Miami Tower. Upon its purchase of TotalBank in June 2018, City National Bank made the decision to expand within the building to accommodate its new headquarters, which the Transwestern team expedited. Matthew Goodman and Jeff Gordon of JLL represented the tenant. In addition, multinational investment bank and financial services company UBS renewed its 37,000 SF lease. Tony Jones of Cushman & Wakefield represented the tenant in the long-term lease.

“The transactions with City National Bank and UBS represent tenants’ ongoing attraction to Miami Tower as a preferred location, boasting nearby amenities and direct access to Interstate 95,” said Dubberly. “City National Bank had multiple options for where to place its headquarters, from owned to leased space, and, ultimately, Miami Tower’s attributes and the nimbleness of our team secured the deal.”

Transwestern was retained to lease Miami Tower in January 2017 when the building was 80.8% occupied. The team has since increased the building’s occupancy rate to 94.2 %, which significantly outpaces the downtown Miami office market’s average Class A occupancy, which is currently 78.3%. According to research by Transwestern on the two Miami Central Business District submarkets, Class A rent in downtown Miami averages at $44.97 per square foot, compared to Brickell’s $51.21 per square foot.

“With one of the lowest vacancy rates in downtown, Miami Tower stands out as a market leader on par with Brickell’s more expensive Class A office options,” said Gregory. “While Brickell has a Class A vacancy rate below 10 percent, compared to that of downtown at nearly 22 percent, it’s worth noting that more than 60 percent of downtown’s vacant space is contained within just two buildings. As those buildings compete for new leases, we’re pleased that Miami Tower is in such a positive position.”

Miami Tower is one of the tallest buildings that illuminates Miami’s skyline. Centrally located in Downtown, the LEED Gold building features a state-of-the-art conference facility, fitness center, the only on-site Metromover station in Downtown, and access to many restaurant, retail, and hotel options.

For more information about Miami Tower, private showings or leasing information please fill out the form below: