The Real Deal Miami

Citi renews 125K sf lease at Miami Center

Owner also announced $20M renovation plan

June 26, 2015 01:00PM

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Miami-Centeri

The Miami Center office tower at 201 South Biscayne Boulevard

Citigroup has renewed its 15-year lease as the anchor tenant of Miami Center, a 34-story office tower in downtown Miami.

The announcement by owner Crocker Partners is joined by plans for a $20 million makeover of the tower. Renovations have already started, and include updates to the lobby, plaza, entrance, outside plaza and modernized elevators, according to a news release.

Angelo Bianco of Crocker Partners

Angelo Bianco of Crocker Partners

Citigroup’s lease spans 125,000 square feet, the largest in the building. Jon Blunk of Cushman & Wakefield brokered the lease for Crocker Partners, while Patrick Duffy of Newmark Grubb Knight Frank represented Citigroup.

Law firm Hughes Hubbard & Reed also renewed its lease for the entire 25th floor — about 24,000 square feet — two months ago.

Miami Center is a 786,267-square-foot tower at 201 South Biscayne Boulevard. It was built in 1983, and most recently sold to Crocker Partners for $262.5 million in 2012. — Sean Stewart-Muniz

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