Transwestern Names Bruce Ford As President of Transwestern Commercial Services' East Region

Transwestern has announced that Bruce Ford has been named President of Transwestern Commercial Services’ East Region. Ford, who previously served as President of the Southeast, now assumes oversight of operational excellence, client service delivery, and business development initiatives for the commercial real estate services business in offices throughout Florida, Georgia, Tennessee, Virginia, Maryland, the District of Columbia, Massachusetts, New Jersey and New York. This new position is part of the company’s transformation to a broader, three-region approach to commercial services, which is designed to inspire high performance, capitalize on synergies and enhance client connectivity.

“Transwestern is committed to exceeding clients’ expectations for consistency, innovation and cost savings, so it makes good sense to view our commercial services offerings through a wider lens,” said Tom Lawyer, President, Transwestern Commercial Services. “Bruce’s business acumen and proven ability to drive results make him a natural fit for this new role. We are confident his strong leadership will further collaboration, spark creativity, and ultimately grow market share in some of the country’s most vibrant, multi-faceted markets.”

Ford’s responsibilities during his 10-year tenure with Transwestern span all business lines, including Agency Leasing, Asset Services, Capital Markets and Occupier Solutions. His leadership in management operations, financial planning and creative marketing has led to tremendous recruiting success and regional growth. Since Ford assumed responsibility of the Southeast, the region’s property management portfolio has more than doubled to its current 20.3 million square feet, and in the past five years, transaction volume increased approximately 25%.

“Transwestern’s ability to attract and retain top talent coupled with our intense focus on service delivery have established Transwestern as a leader in the industry,” said Ford. “It is an honor to work alongside an inspiring leadership team with a clear vision – one aimed at expanding opportunities for our team members and challenging each of us to think differently about how we work together to add value for our clients.”

Ford serves on Transwestern’s Board of Directors and Executive Committee. He holds the designation of Real Property Administrator (RPA) from the Building Owners & Managers Institute, and, since 2008, he has been included in the Atlanta Business Chronicle's "Power 50," a guide to the city’s top 50 industry leaders.

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.

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