WeWork Bought Out Of 146,000 SF Lease At 830 Brickell By OKO Group And Cain International

WeWork has been bought out of their lease to occupy 146,000 square feet covering 10-floors at 830 Brickell by developers OKO Group and Cain International. WeWork was one of the first to sign a major lease at the Class A office tower in 2019 which was set to become their largest location Florida. Rents at 830 Brickell are now in excess of $125 PSF representing a 42% rise year-over-year. Construction on the tower is nearing completion.

Despite the WeWork opt-out 830 Brickell has signed leases with other top-tier office users at 830 Brickell, including Microsoft, international law firm Sidley Austin LLP, New York-based insurance firm A-CAP, private equity firm Thoma Bravo, CI Financial, Marsh Insurance, AerCap, and others.

The news comes as the Miami office market continues to boast one of the lowest vacancy rates with absorption faring better than other competing markets across the U.S, according to the Miami Downtown Development Authority’s 2021 Office Market Report. In fact, Downtown Miami was the only major urban office market in the country to achieve net-positive absorption in 2021.

830 Brickell was designed by renowned architecture firm Adrian Smith + Gordon Gill, with interiors by Italian architecture and design company Iosa Ghini Associati.

The tower’s amenities will include a rooftop bar/lounge and restaurant – with menus developed alongside a three-Michelin-starred chef and showcasing expansive views of the City and Biscayne Bay, a world-class health and wellness center, conferencing facilities, an outdoor terrace, cafeìs and street-level retail. Multiple transit options are nearby, including Metrorail and Metromover, the Brightline, walking paths, cycling lanes and bay access points. Additionally, some of Miami’s top residential and lifestyle-driven neighborhoods are situated just minutes away, such as Miami’s Design District, Wynwood, Edgewater and Miami Beach.

Gazit Horizons And Atlantic Pacific Reveal New Renderings Of Corwil Architects-Designed Brickell Gateway

Gazit Horizons and Atlantic Pacific have revealed new renderings for Brickell Gateway, a proposed 61-story tower set to rise 747’. Located at 90 SW 8th Street on a ½ acre hard corner development site, the current Corwil Architects-designed proposal includes 504 multifamily units, 18,287 SF of retail and 348 parking spaces. In March the developers requested a final approval for the project from Miami-Dade County planners. As it located in a rapid transit zone, developers requested the final review by county planners as opposed to City of Miami planners. Gazit Horizons acquired the land in July 2017 for $29.5 million and recently demolished the existing 3-story building earlier this year.

Major Food Group And JDS Development Part Ways at MAJOR, Rebranded As 888 Miami

Major Food Group (MFG) and JDS Development Group (JDS) have parted ways at MAJOR, a proposed supertall residential tower at 888 Brickell Avenue. The project has been rebranded as 888 Miami by JDS Development and Studio Sofield. The tower is still described as a ground-up hybrid hotel and luxury condominium residences. The project was to be Major Food Group’s first entry into residential real estate. JDS Development Group is led by Chief Executive and Founder Michael Stern, the powerhouse developer and builder responsible for some of the most dynamic new skyscrapers in New York City and Miami.

888 Miami will rise 1,049 feet tall and rise 888 will feature 259 custom residences conceived as fully hybrid layouts. Each residence is designed to enable the seamless conversions into rooms and suites for guests. The tower, designed by William Sofield, features an elegant and restrained façade of ivory travertine and high-gloss steel columns to express enduring weight and substance while giving a defined graphic, vertical appearance, setting it far apart from its glass and stucco neighbors. The notable crown is wrapped with a filigree of gold spheres and punctuated by extraordinary sculptures in the manner of Italian Futurism on each corner.

Each of the furnished residences in the condo-hotel, ranging from 1-to 4 bedrooms, is designed with custom furniture by Studio Sofield. The plans enable Major residences to seamlessly transform into rooms and suites for guests. Conceived as fully hybrid layouts, each residence utilizes a “lockout” function, which allows for simple conversions between a private residence, suite, and/or guest room. 888 Miami will feature 115,000 square feet of amenities spread over eight floors focused on entertaining, sports, leisure, wellness and fitness.

For more information about 888 Miami, private showings or purchasing/ leasing information please fill out the form below:

Carrot Express Aventura Gets an Upgrade Doubling in Size

Miami’s fan-favorite eatery, Carrot Express in Aventura is getting an upgrade and a new location. The health-conscious concept will relocate one block South from their previous outpost which opened in 2018. Their new home will occupy a larger space with revamped interior boasting a bigger dining room and alfresco dining. Guests will be able to enjoy their favorite Carrot Express dishes in a more spacious and stylish setting. This marks their second outpost in Aventura in addition to their outpost inside Miami’s premier shopping destination, Aventura Mall.

Doubling in size, the new Aventura destination occupies 2,100 square feet with 50 seats indoor and 16 seats outdoors. Inside incorporates the similar inviting and relaxed atmosphere as its fellow Miami locations however, this new location features accents of wood and greenery with hanging lights throughout. Creative Director, Alberto Bassal shared, “We’re thrilled to reopen in the neighborhood with an enhanced inviting experience and a beautiful terrace to dine alfresco.” He added, “We also want to provide our locals and loyal clientele a more accommodating experience with more parking spots.”

Most recently, Carrot Express launched a brunch bundle where guests can order any breakfast or all-day breakfast item and receive the second item free. The BOGO deal will be offered every Saturday and Sunday from 9 AM until 2 PM, on-site at all locations including Aventura.

Highlights include:

• California Eggwich – 2 cage free folded eggs folded with avocado, crumbled feta cheese, arugula, tomato, lime juice and olive oil served on a toasted sesame bagel

• Quinoa Breakfast Bowl – topped with roasted cremini mushrooms, sautéed kale, avocado, pico de gallo and a cage-free sunny side egg

• Josh’s Overnight Oats – mix of oatmeal, almond milk, toasted coconut flakes, chia & flax seeds, cinnamon, blueberries, strawberries, Mario’s granola, almond butter, drizzled honey

• Almond Butter Toast – almond butter, strawberries, blueberries, chia seeds, cinnamon, toasted coconut flakes spread on multigrain sourdough bread by Zak the Baker drizzled with honey

• Huevos Rancheros Burrito – 2 cage-free scrambled eggs, brown rice, black beans, avocado, fresh corn, jack cheese, cilantro & pico de gallo, wrapped & toasted on a whole wheat wrap, served with cilantro-lime dressing

Additional menu highlights include Carrot Express’ best-selling LIV Wrap – grilled chicken breast, avocado, quinoa, kale, jack cheese and basil pesto, OMG! Turkey Burger – homemade all natural & hormone free ground turkey burger topped with arugula, avocado, tomato, red onion, mustard aioli on a toasted multigrain bun, Mario’s Favorite – Arugula, kale, spinach, toasted almonds, peas, golden raisins, quinoa, scallions & cilantro brown rice with a homemade citrus sauce and their signature, Carrot Cake made with freshly grated carrots and layered with a homemade cream cheese frosting and crushed pralines.

Their new Aventura location can be found at 2440 NE Miami Gardens Dr #107, Miami, FL 33180. Hours of operation will be Monday through Friday from 8 AM - 9 AM and on Saturday and Sunday from 9 AM - 9 PM.

International Law Firm Sidley Austin LLP Signs 60,000 SF Lease At Miami's 830 Brickell Office Tower

Sidley Austin LLP, an international law firm with almost $3 billion in revenue and 20 offices worldwide, has signed a lease at 830 Brickell, the new Class-A+ office tower nearing completion in Miami’s Brickell Financial District. Sidley signed a three-floor, 60,000 square-foot lease at the 55-story tower, marking the largest new-to-market office lease signed in the city’s urban core this year. The building, developed in partnership by OKO Group and Cain International, is the first stand-alone Class A+ office tower to be built in Miami’s Brickell Financial District in over a decade and is nearly 70 percent leased ahead of its late-2022 completion.

Sidley will join additional top-tier office users at 830 Brickell, including Microsoft, New York-based insurance firm A-CAP, private equity firm Thoma Bravo, CI Financial, Marsh Insurance, AerCap, WeWork, and others.

“We are excited to be at the center of this new growth of the Miami business community as we open our 21st office in such a vibrant, international market,” said Yvette Ostolaza, Sidley’s Chair of the Management Committee. “As a Miami native, I know this community well and am excited about the talented lawyers who we have already recruited to serve our M&A, private equity, financial services, tech, cybersecurity and privacy, healthcare, real estate, entertainment, sports, and media, SEC regulatory and enforcement, and global finance clients. We are excited about our new office space.”

“At nearly seventy percent leased, 830 Brickell continues to serve as a magnate for professional service, tech and financial firms growing their presence in Miami,” said Vlad Doronin, Chairman and CEO of OKO Group, and Jonathan Goldstein, CEO of Cain International. “Brickell has acted as a bellwether in the South Florida office market, and we anticipate increased demand in 830 as Miami grows into a global hub for talent, lifestyle and innovation.”

The news comes as the Miami office market continues to boast one of the lowest vacancy rates with absorption faring better than other competing markets across the U.S, according to the Miami Downtown Development Authority’s 2021 Office Market Report. In fact, Downtown Miami was the only major urban office market in the country to achieve net-positive absorption in 2021.

830 Brickell’s ownership was represented by Cushman & Wakefield’s Brian Gale, Ryan Holtzman and Andrew Trench. Sidley was represented by Jeff Gordon and Barbara Black of JLL.

“830 Brickell continues to attract tenants at the top of the food chain and across diversified industries – like financial services, tech, insurance, banking and now, top-tier law firms,” said Brian Gale, Vice Chairman of Cushman & Wakefield. “The surge in new-to-market activity we’ve been experiencing over the last couple years is by far the most we’ve seen in Miami, with over 500,000 square feet of active tenants currently looking for space in the market. The cities that have generated the most activity for South Florida’s office market have come from New York, Chicago, and San Francisco.”

830 Brickell was designed by renowned architecture firm Adrian Smith + Gordon Gill, with interiors by Italian architecture and design company Iosa Ghini Associati.

The tower’s amenities will include a rooftop bar/lounge and restaurant – with menus developed alongside a three-Michelin-starred chef and showcasing expansive views of the City and Biscayne Bay, a world-class health and wellness center, conferencing facilities, an outdoor terrace, cafeìs and street-level retail. Multiple transit options are nearby, including Metrorail and Metromover, the Brightline, walking paths, cycling lanes and bay access points. Additionally, some of Miami’s top residential and lifestyle-driven neighborhoods are situated just minutes away, such as Miami’s Design District, Wynwood, Edgewater and Miami Beach.

Construction Powering Forward At Finvarb Group's Thompson Hotel South Beach

Construction is powering forward at Thompson Hotel South Beach which is being developed by Finvarb Group, led by Ronny Finvarb, and Chahine Investment Corp. The mixed-use project is designed by world-renowned French architect Rudy Ricciotti and is being developed on a .7 acre site at 1685 Washington Ave. When complete the building will feature a 150-room hotel which will be branded as a Thompson Hotel by Hyatt, with a rooftop restaurant and pool deck, as well as ground-floor retail.

In late May the project secured $44.6 million in construction financing. Since securing the financing construction teams have passed the 5th floor for the building which will rise 8-stories when complete. Ortega is the general contractor.

In addition to the Thompson and other projects in different stages, Finvarb Group owns 13 hotels and restaurants in Florida, Texas and Arizona, including the Kimpton Palomar South Beach and Osteria Morini, the Residence Inn by Marriott South Beach, and the Courtyard by Marriott South Beach, which they developed. In Miami, Finvarb Group also owns the Landon Bay Harbor boutique hotel, including The Palm restaurant, which they acquired for $10 million in November 2021.

Chahine Investment Corp. is a family office subsidiary managed by Agathe Chahine that focuses its investments on office buildings, luxury hotels with the historic Palacio Ludovice in Lisbon that just opened, private equity, and financial markets.

ALTARA Properties Successfully Oversees Leasing For 4K+ SF Of Retail At Palm Square In Pembroke Pines

ALTARA Properties has successfully overseen the leasing of 4,087 SF of retail at Palm Square in Pembroke Pines on behalf of the landlord, Galium Capital. Little Mikes Pizza leased 1,887 SF at 9843 Pines Blvd and Next Level Taekwondo leased 1,200 SF at 9815 Pines Blvd. Both sides of the transactions were overseen by Demetri Demascus, managing broker of ALTARA Properties. Success Mental Health Services leased 1,000 SF at 9839 Pines Blvd.

Palm Square is a 77,621 SF shopping center in Pembroke Pines, Florida. The property has more than 600 linear feet of prime retail frontage along Pembroke Pines’ a main retail corridor, Pines Boulevard, and over 160,000 people live within a three-mile radius. Tenants include Dunkin’ Donuts, KFC, Sherwin-Williams, and Goldfish Swim School. The property was built in 1987 on eight acres.

ALTARA Properties is a full service real estate company led by Managing Broker Demetri Demascus, who is also co-founder of PROFILEmiami. ALTARA Properties offers both residential and commercial brokerage and marketing services across South Florida with in-house PR, branding and marketing offered to all agents. ALTARA Properties has over $40 million in closed transactions since launching in early 2022.

Catch-Up With Property Management Guru Maty Beraja of MAGASI In An Exclusive PROFILEmiami Interview

PROFILEmiami had the opportunity to catch-up with Maty Beraja, Director of Operations at MAGASI, a family-run, full-service property management company specializing in multifamily, affordable housing, and hospitality management. As Director, Maty oversees all operational aspects of the company’s day-to-day operations. A Miami native, Maty has an MBA from the University of Miami; paired her work in local value-add projects, Maty understands how the Miami market works and matches that with her clients needs. We joined Maty at one of the short-term rental properties that she manages to get the background scoop on MAGASI.

PM: Introduce yourself and give us your background.

MB: My name is Maty Daniela Beraja and I am the Director of Operations for MAGASI – a family-run, full-service property management company specializing in multifamily, affordable housing, and hospitality management. I am a Miami native and graduated from the University of Miami, for both my undergraduate degree and accelerated MBA in Real Estate. I have over six years working in the multifamily and commercial real estate sector and now I work alongside my parents and sister at MAGASI.

PM: Tell us about your early real estate career.

MB: I went to college with a passion for both design and numbers – something I never imagined being able to combine into one profession. Coming from an entrepreneurial family in the healthcare industry that invested in multifamily properties, I became involved at an early age in the management, acquisitions, and value-add real estate sector. During my MBA summer internship at Lennar, I worked in San Francisco on multi-million-dollar adaptive reuse projects as a development analyst. Upon graduation I joined my family’s business and have grown MAGASI to what it is today, providing superior management services to our investor clients, institutional owners, and public municipalities.

PM: Tell us about MAGASI’s background and where the name comes from.

MB: MAGASI was founded by my parents and our company’s principals, Lisette and Victor Beraja. They created the word MAGASI, combining the names of their children – Maty, Gabriela, Sabrina and Isidoro – to form their first real estate LLC back in 1992. Thirty years later, MAGASI has grown to manage hundreds of units including market rate, short-term rental, and affordable senior housing in Miami Dade and surrounding counties.

PM: What services does MAGASI offer?

MB: Our property management services range from traditional multifamily, affordable housing, short-term rentals, and receivership. MAGASI works with a variety of clients – from first time and experienced real estate investors to institutional lenders, government entities, and luxury condo owners. Over the years, we have expanded our services to meet the needs of clients and offer everything from design and procurement to leasing and brokerage, acquisition analysis and due diligence, to property rehabilitation.

PM: As Director of Operations, what is your daily role in the company?

MB: I am involved in overseeing the entire operations for our corporate-owned and investor-owned portfolios. I love the flexibility my role has and the different skillsets it requires. Some days involve analyzing the performance of our properties with our team of managers and communicating with clients, while other days require higher-level thinking about the strategy and future of MAGASI.

PM: What are some of the ways that MAGASI provides value for their investor clients through property management?

MB: We provide value through our transparency, timeliness, and high degree of trust. We think of ourselves as having an institutional framework with a family-oriented approach. As real estate owners and operators for 30+ years, our perspective allows us to capitalize on value-add opportunities that the average investor wouldn’t think of, leading to better performance for the long-term. Our ability to execute quickly and remain true to our word is especially important to investors – now more than ever.

PM: What are some of the ways that MAGASI improves an investment property's performance over that of an owner operator?

MB: Our processes, policies, and people allow us to improve a property’s performance compared to a traditional owner operator. We have the existing infrastructure and relationships in place to stabilize properties in record time, incorporating modern design and services that residents desire. Owner-operators may often be complacent with the approach that “if something is working, don’t change it.” But in today’s fast-moving market, properties that do not advance to newer standards of functionality will fall behind. The ability to accommodate both long- and short-term renters can significantly improve a property's performance if done correctly. A typical owner-operator wouldn’t have the experience to convert a market rate unit into a fully-functioning Airbnb with a cleaning crew and 24/7 customer service in less than 2 weeks. Our approach to modernizing and improving assets attracts better tenants, higher rents, and increases performance.

PM: What are the keys to being a successful short-term rental operator in Miami?

MB: Our hospitality department is my personal favorite, by far! As five-star Superhosts with 100% response ratings and 0% cancellations, we’ve perfected our short-term management approach. We cater to clients by offering design, procurement, platform onboarding, booking management, concierge and cleaning services. The key to being a successful short-term rental operator is threefold: Accommodate, Anticipate, and Automate.

1. Accommodate all types of travelers from couples, families, digital nomads, medical tourists and weekend vacationers by providing essential household items, fast internet, and dedicated workspaces.

2. Anticipate your travelers’ needs and provide great customer service with 24/7 support to answer questions and provide recommendations.

3. Automate your listings with smart technology, key-less entry systems, and automated messaging to save time and improve travelers’ experiences.

PM: How have you seen rising prices change the market?

MB: Rising prices are leading to a rapid demand west of Miami’s coastline into surrounding cities and neighborhoods like Little Havana, Hialeah, and Westchester as renters can no longer afford places like Brickell, Downtown, and Edgewater. I know many cases of young professional renters in their 20s-30s that are unable to sustain the hikes due to such high demand. We’ve also seen a new sector of demand for mid-term renters, staying between 3 to 8 months in a fully furnished unit. Many of these renters sold their home while the price was high and now need a place to stay in the meantime. Others need a shorter, more flexible option while finding a permanent stay as they figure out a new work or living situation.

PM: Where have you seen greater client growth, the short-term rental market or the multifamily market?

MB: Both client sectors are growing rapidly. We have seen high growth in client investors from other US markets like California, New York, Atlanta, Phoenix, and Chicago coming to Miami and in need of a local, professional management company. The same holds true for investors from Latin America looking for bilingual management services, which MAGASI offers. We are uniquely positioned to offer clients both long- and short-term management services, benefiting from the upside in hospitality rates, yet hedging against a future correction.

PM: Is MAGASI looking to add any new markets or services in the near future? What ways is MAGASI looking to grow?

MB: MAGASI has grown tremendously over the last 2-3 years, catering to every type of investor from professional athletes, family trusts, municipalities, to business owners, doctors, and lawyers looking to diversify their assets. Our services have grown as we cater to every client’s needs from design to construction management and brokerage. I see MAGASI diving deeper into these service lines and forging stronger partnerships with big players in the market. Our clients are travelling farther north and west up the coast of Florida and MAGASI is there to continue providing our services.

PM: How has Miami changed since you started in the real estate industry?

MB: I distinctly remember entering the real estate industry with a college professor telling me it was a crazy idea to major in Real Estate, just as the market was recovering around 2012. But I was young and confident in Miami’s future as a hub for travelers and a desirable place to live and work. New Class A projects have raised the bar and transformed Miami’s reputation into the ultimate city to live, work, and travel. We’ve seen new product categories like co-living, apartment hotels built for short-term rentals, and even mixed-income buildings expand into the market. The massive investment in Miami’s infrastructure – highways, roads, high-speed rail, the Underline, etc. - will catapult the real estate market even further.

PM: Since you grew up in Miami what are some of your favorite restaurants in the area?

MB: The Miami restaurant scene has really elevated itself in the last two years with restauranteurs coming from all over the country, but my heart remains with those restaurants that have grown with Miami. I remember eating vegan carrot cake at the first Pura Vida in South Beach almost every weekend, well before they opened their tenth location to date. I have also loved watching Mister01 quickly expand throughout the market. At the end of the day, I’ll take any excuse to eat some great sushi, from a casual night at Matsuri to an elevated evening at Kuro at the Hard Rock Hotel. Some new restaurants that I’m fond of are MILA and Abbale Televivian Kitchen.

PM: What does the future look like for MAGASI?

MB: The future of MAGASI is extremely bright. We pride ourselves on our humble beginnings and are continuing to grow our team, portfolio of clients, and project pipeline. You will be seeing big things from MAGASI as we expand into development and we look forward to partnering with even more businesses, municipalities, and professionals in the real estate sector to make Miami the best place to live, work, and create.

Aimco Partners with Camillus House and Provides $1 Million Contribution to Advance Workforce Development

Apartment Investment and Management Company (“Aimco”), a diversified real estate investment company, has pledged $1,000,000 to Miami-based Camillus House to support expanded workforce development programs. 

In discussions with Miami’s civic and community leaders it became clear that despite a strong job market, many of Miami’s residents don’t possess the necessary skills or experience to obtain better-paying jobs and are, therefore, unable to benefit from Miami’s rapidly growing economy.  As a major investor in South Florida, it is important to Aimco that those at all levels of the economic spectrum have the opportunity to excel and in turn, contribute to the broader community. 

Since its founding in 1960, Camillus House has been a pillar of the Miami community. Created to provide meals and spiritual comfort to homeless Cuban exiles and other poor and hungry Miamians, Camillus House has grown steadily into one of the largest providers of services to the most vulnerable population in the community. Camillus House houses more than 1,700 people nightly through its 11 residential facilities and scattered-site apartments across Miami-Dade County. Some of its programs include Day Center services, Specialized Street Outreach programs, Homeless Prevention initiatives, and comprehensive workforce development and life skills programming. 

“Many people experiencing homelessness want to work, but without the necessary training and skills it’s extremely difficult for them to earn enough income to move forward,” explained Hilda M. Fernandez, Camillus House CEO.  “Thanks to this critical and very generous multiyear grant from Aimco, we can now expand our workforce development program to provide the guidance, support, and vocational training that can help prevent homelessness and change the lives of the great many men and women we serve throughout Miami-Dade County.” 

In partnership with Aimco, the Camillus House Workforce Development Initiative will provide opportunities to Camillus House residents such as participation in construction trade programs operated by Florida International University and funded by Southeast Overtown/Park West Community Redevelopment Agency, an eight-week culinary certificate through the Miami-Dade College Culinary Arts Program, and employment opportunities with the Downtown Enhancement Team through the City of Miami’s Downtown Development Authority and Omni Community Redevelopment Agency.

In addition, through its Aimco Cares program, Aimco will sponsor scholarships to individuals in the Camillus House program designed to remove barriers to employment for those looking to obtain or maintain a job. The scholarships will cover job-related costs, such as bus passes, licensing fees, uniforms, classes, and similarly required ancillary costs crucial to succeed in gainful employment opportunities.

“Aimco Cares’ mission is to empower the most vulnerable by giving them the tools required to improve their quality of life,” said Jennifer Johnson, Aimco’s Executive Vice President and Chief Administrative Officer. “Being able to obtain and maintain higher-paying jobs is the building block for a long-term and sustainable solution for many Miami residents. As a real estate developer, it is our responsibility to give back to the communities in which we are active and passionate. Aimco is thrilled to be part of the Miami community and looks forward to future investments in the City and its residents.” 

DRA Advisors and CP Group Acquire Iconic Office Building 'Miami Tower' In Downtown Miami For $163.5 Million

DRA Advisors and CP Group have acquired Miami Tower, a 627,152-square-foot trophy office tower in Downtown Miami’s Central Business District for $163.5 million. Mike Davis, Dominic Montazemi, Mike McDonald, Miguel Alcivar, Rick Brugge, Rick Colon, and Adam Spies of Cushman & Wakefield represented the seller, USPO Miami, LLC, in the transaction. Jason Hochman and Ron Granite of Cushman & Wakefield also arranged the acquisition financing through PGIM on behalf of the buyer, DRA Advisors and CP Group.

“Miami Tower is a hallmark icon of the Miami skyline with a storied history,” said Montazemi, Executive Managing Director at Cushman & Wakefield. “CP Group together with DRA have a vision to elevate the asset with significant capital investment and plans for modernizations that will place Miami Tower as a category-defining option for tenants seeking the very best transit-oriented workplace solutions together with state-of-the-art on-site amenities.

Additionally, “The asset’s live-work-play environment and location in an area that has had more than $23 billion worth of recent development happening will continue to attract interest from established businesses in and outside of Florida,” said Davis, Executive Vice Chair at Cushman & Wakefield.

Located at 100 SE 2nd St., Miami Tower is a trophy asset that spans 47 stories and is currently 67% occupied while historically averaging 90% or better. The office tower features a unique triple-tiered light display and best-in-class amenities such as an on-site conference center, fitness facility, Sky Lobby and Sky Terrace event space, ground floor retail, and adjacent Hyatt Regency Miami Hotel. It’s also the only office building in Miami that is fully connected into the city’s public transit system with an integrated Metromover station, which provides nearly immediate access to Miami Central station.

Miami Tower has been a critical part of the city’s public and business community since it was built in 1987, and significant capital has been invested in renovation projects over the years to maintain it. Under new ownership, the office tower offers potential value-add through further enhancements to its amenities.