Cushman & Wakefield has leased nearly 30 percent of the office space at Miami Center as the property undergoes a $20 million renovation.
Year-to-date, the leases cover 228,000 square feet at the downtown Miami office tower, at 201 South Biscayne Boulevard.
Jon Blunk, Cristina Glaria and Laurel Oswald of Cushman & Wakefield brokered the lease renewals and expansions, which include anchor Citigroup’s 125,000-square-foot lease and Shook Hardy & Bacon’s renewal of its 54,700-square-foot lease. Hughes Hubbard & Reed, represented by Rashid Siahpoosh of Newmark Grubb Knight Frank, renewed its 23,500-square-foot lease.
Jones Walker, represented by Doug Campbell of Campbell Real Estate, also renewed its 14,700-square-foot lease. Harper Meyer expanded its office to 13,500 square feet. Patrick Duffy of NGKF represented Citigroup, Shook, Hardy & Bacon and Harper Meyer.
Overall vacancy in the third quarter was 12.6 percent, a 2 percentage point decrease from the same period last year, according to Cushman & Wakefield.
Crocker Partners owns the 34-story building, which is adjacent to the InterContinental Miami. It was built in 1983. The firm acquired it in 2012 for $262.5 million. Crocker is renovating Miami Center’s main lobby and exterior, including a new building entrance with a porte-cochère and valet drop-off, a glass curtain wall system replacing the existing north and west facades and new signage.
Richard Meier & Partners is the architect for the renovation. – Katherine Kallergis