The Real Deal Miami

Related in no rush to demolish 444 Brickell

Developer offering seven-year leases at 11-story office building

April 14, 2014 04:30PM

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444 Brickell Avenue

444 Brickell Avenue

The demolition of the 444 Brickell office building to make way for the Related Group’s One Brickell development is a long way from happening, if it happens at all.

Related is offering leases for up to seven years at the 11-story office building, which is home to Capital Grille, exMiami reported. The company paid $104 million for the 444 Brickell Avenue site in December 2013. It plans to build 1,200 residential units, a five-star hotel and at least 200,000 square feet of office and retail space in three phases.

Capital Grille’s existing lease for the ground floor of 444 Brickell includes five-year renewal options in 2016 and 2021. [exMiami]Eric Kalis

  • shawn

    yea like we all said related is the downfall of every real estate crash, they over build i can not understatnd how the banks still work with them with the amound of damage they created in miami. Everyone praises them s if they are doing amazing things for us, but it is complete opposite. It is funny how now they stopped 4 projects, maybe because they do not listen and choose to go on their own economy not the county or states

  • Gustavo Santos

    I believe the reason behind the stoppage is to hold the coveted space until a higher bidder come around and buys the place from them. After all, space is at a premium in Brickell.

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