The Real Deal Miami

SoFla lease roundup: Babson College expands to Brickell & more

Leases also in Prologis Gratigny Park and Miami Design District
By Amanda Rabines | July 20, 2018 01:30PM

1200 Brickell Avenue

UPDATED Aug. 1, 2:30 p.m.: Babson College inks lease at 1200 Brickell

Massachusetts-based Babson College is expanding to Brickell.

The college, which specializes in entrepreneurship education, inked a five-year, 5,500-square-foot lease at 1200 Brickell Avenue and is filling up half of its third floor.

Marcello Agostini of AG Real Estate Advisors represented the landlord, SGJ 1200, LLC. Records show the Miami-based company is led by Jorge Cury and Jose Roberto Neto. Cushman & Wakefield represented the tenant.

Agostini said Babson College is in the midst of moving in and plans to open by the upcoming fall school year. The 20-story office building, which is anchored by BB&T, has about 375 office condo units and is about 85 percent occupied, according to Agostini. He said the building’s rents are in the mid-to-high $30s per square foot.

The office tower was built in 1982 and was converted to office condos in 2008.

Babson College has been ranked No. 1 for entrepreneurship education by the U.S. News and World Report for more than 25 years. Last year, it was reportedly moving into the Cambridge Innovation Center at 1951 Northwest Seventh Avenue, according to the Miami Herald. In the U.S., the school has existing hubs in Wellesley, Boston and San Francisco.

Furniture retailer moves into Prologis Gratigny Park in Miami

Furniture and accessories retailer S&V Group just inked a 70,825-square-foot lease at a warehouse within the Prologis Gratigny Park in Miami.

The warehouse at 11400 Northwest 32nd Avenue spans 262,900 square feet. The landlord, AMB Fund III Mosaic LLC, is an affiliate of Prologis. Records show the company paid $14.5 million for the warehouse in 2006.

Easton & Associates’ Jim Armstrong and Mike Waite represented the tenant.

Miami Design District building inks Poltrona Frau as new tenant

Italian leather furniture design brand Poltrona Frau is opening a new flagship store in Miami’s Design District.

Poltrona Frau inked a lease for a 4,300-square-foot space at 1400 Northeast Second Avenue. The company recently relocated to Los Angeles and has opened stores in Houston, Dubai and Tokyo.

It plans to have a grand opening in September, according to a press release.

Correction: A previous version of this story misrepresented Poltrona Frau’s square footage, based on incorrect information from a spokesperson.