Blackstone Group Signs Long-Term Lease At MiamiCentral For South Florida Expansion

Blackstone Group has signed a long-term lease at 2 MiamiCentral in Downtown Miami as the investment group moves forward with their South Florida expansion which was announced in October 2020. Blackstone will occupy 41,000 square feet over two floors in the recently completed 2 MiamiCentral where the group plans to have over 200 employees who will be focused on tech. The lease was overseen by Alan Klebar and Ryan Nunes of JLL, who represented Blackstone, as well as Danet Linares and Andres del Corral of Blanca Commercial Real Estate, who represented the landlord. The newly signed lease brings 2 MiamiCentral, which is owned by Shorenstein Properties, to 98% occupied with other tenants included Ernst & Young, Carlton Fields and New Fortress Energy. Asking rates at 2 and 3 MiamiCentral are $40 NNN.

“Miami is a vibrant city with a pipeline of top technology talent available from best in class university programs, as well as an experienced workforce that will enable us to diversify our talent pool and grow our technology team. 2 MiamiCentral’s prime downtown location and access to mass transit make it an ideal office location,” said John Stecher, Blackstone’s Chief Technology Officer.

MiamiCentral was developed by Florida East Coast Industries and completed in 2018. The 2 MiamiCentral and 3 MiamiCentral office buildings have highly efficient, open rectangular floor plates, floor to ceiling windows boasting unobstructed views, market leading amenities, and direct access to local and multi-city mass transit. The 17-story 2 MiamiCentral is located at 700 NW 1st Avenue and features 190,000 square feet of Class A office space with a 288-stall valet parking garage that sit adjacent to Miami Central Station, the transportation hub serving four rail lines including the Brightline. Combined 2 and 3 MiamiCentral feature 320,000 square feet of Class A office-space and were acquired by Shorenstein Properties for more than $159 million in 2019.

3 MiamiCentral Completed & Welcomes Brightline, The Project’s First Office Tenant

Florida East Coast Industries has announced the completion of 3 MiamiCentral, its first mixed-use tower at MiamiCentral and has welcomed its first office tenant, Brightline. Brightline, the nation’s only privately funded inter-city, express passenger rail service, officially moved its corporate headquarters to 3 MiamiCentral; additionally, HNTB, a nationally recognized infrastructure solutions firm, recently signed a lease for its Miami office. 3 MiamiCentral rises 12-stories and features 96,000 SF of rentable Class A Office Space, 35,000 SF of rentable ground level retail space and is adjacent to the MiamiCentral transit station and Two MiamiCentral. 3 MiamiCentral a seven-story parking garage to supply ample parking for Brightline guests, visitors and office tenants. Brightline’s lease encompasses approximately 24,000 SF and HNTB’s lease spans approximately 18,000 SF. Multiple retail spaces make-up the ground floor where Einstein Bros. Bagels and a major grocer. Two MiamiCentral will feature 190,000 SF of Class A Office Space with tenants including Ernst & Young, Cisneros, Moss & Associates, Venevision International Enterprises, Fortress Investment Group, Florida EAst Coast Industries and Regus. Rental rates at Two MiamiCentral are around $33 to $35 SF triple net; and $29 SF at 3 MiamiCentral  

MiamiCentral, the highly anticipated hub for transportation, leisure and business, is a transformational, first-of-its-kind, transit-oriented development, spanning six Downtown Miami city blocks. It serves as the southern terminus for Brightline, the new inter-city, express passenger rail service that opened between West Palm Beach and Fort Lauderdale on January 13. The system will extend to Miami in the coming months and will ultimately connect to the Orlando International Airport. MiamiCentral will also provide connectivity to all forms of transit in Miami-Dade County, including Metromover, Metrorail and soon, Tri-Rail.

“We are excited to have recently relocated Brightline’s new headquarters to 3 MiamiCentral, which is an important component of MiamiCentral and strategically located in Historic Overtown,” said Patrick Goddard, Brightline’s President and Chief Operating Officer. “Downtown Miami continues to transform into a vibrant community, and the addition of this new urban development and passenger rail system will be critical as the city continues to develop.”

“MiamiCentral is set to raise the bar for future office environments and 3 MiamiCentral is the first new standard,” said Daniel Quintana, vice president of development for Florida East Coast Industries. “From the variety of integrated transit options to the desired lifestyle offerings just one elevator ride from the offices, the built-in amenities that come with working at MiamiCentral are truly immeasurable.”

Construction Update: Three MiamiCentral, MiamiCentral's First Office Building, to Open by End of Summer

Three MiamiCentral, the first building to open as part of the 11-acre, mixed-use MiamiCentral initiative by Florida East Coast Industries in Downtown Miami, is expected to open by the end of the summer (2017). The second office building, Two MiamiCentral, is expected to open in the fall (2017). Three MiamiCentral features 90,000 SF of rentable Class A Office Space, 35,000 SF of rentable ground level retail space and is adjacent to the MiamiCentral transit station. Two MiamiCentral will feature 190,000 SF of Class A Office Space with tenants including Ernst & Young, Cisneros, Moss & Associates, Venevision International Enterprises, Fortress Investment Group, Florida EAst Coast Industries and Regus. Rental rates at Two MiamiCentral are around $33 to $35 SF triple net; and $29 per square foot at Three MiamiCentral. MiamiCentral will feature All Aboard Florida's Brightline station for rail service connecting Fort Lauderdale, Palm Beach and Orlando. 

Ernst & Young and Regus Sign Leases at Two MiamiCentral

Ernst & Young and Regus have been announced as the anchor tenants at Two MiamiCentral, the new 190,000 SF Office Building in Downtown Miami. Two MiamiCentral is part of Downtonwn's 11-acre MiamiCentral initiative which also includes MiamiCentral Station which is the future home of the Birghtline. 60% of the potential office space at Two MiamiCentral is now leased as Florida East Coast Industries and Moss & Associates will also occupy the building which was designed by Skidmore, Owings & Merrill and will open in 2017.  For Ernst & Young, the lease will be 108 months with two 60 month options. Along with an affiliate of All Aboard Florida, they have filed a Memorandum of Office Lease for 23,163 SF of the office space. Rail service will also commence in 2017. Learn more about MiamiCentral Station in our August Construction Update.