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South Florida

Citi renews 125K sf lease at Miami Center

The Miami Center office tower at 201 South Biscayne Boulevard
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

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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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