Top 7 Miami Office Leases for 2012

0

The top leases of 2012 are showing the renewal trend strengthening, however, large tenants are still willing to move and when they do, they want higher quality office space.  Two of the biggest transactions occurred at the same property, Lennar Corporate Center, which is home to both Lennar and Rialto Capital.  Diageo is leaving its long-time home in the Waterford/Blue Lagoon area where everyone can see their sign on the 836.  Sapient is finalizing its two-year space consolidation plan that will finally get all of its employees under one roof.

Tenant

Sq Feet

Submarket Transaction Type
Lennar Corporation
Homebuilder
       150,000

Airport West

Renewal/
Expansion

Brightstar
Telecommunications
         61,053

Airport West

Renewal

Sapient
Advertising Agency
         60,000

Coconut Grove

Relocation/Expansion

Young & Rubicam
Advertising Agency
         43,000

Brickell

Renewal

Rialto Capital Mangement
Real Estate Finance
         40,000 Airport West Renewal/Expansion
Diageo
Spirits distributor
         32,527 Coral Gables

Relocation

Merrill Lynch
Financial Services
         30,827 Coral Gables

Renewal

2013 is anticipated to be a year of continued strong leasing activity.  If your lease is expiring in 2013, you need to begin planning your course of action.  The good buildings are experiencing strong leasing activity and the inventory of space continues to shrink.  Please call me so we can discuss the appropriate strategy for you.

Today I am attending a luncheon that features a widely-noted real estate economist who will provide us with his 2013 forecast.  I always enjoy Hugh Kelly and find his analysis to be entertaining and accurate.  Next week, I’ll share his insights with you.

Share.

About Author

Leave A Reply