Lease roundup: Canada’s CI Financial picks Brickell for new US HQ

CI Financial inks lease for 20K sf at 830 Brickell, which is under construction

830 Brickell and the co-developers Cain's Jonathan Goldstein and Vlad Doronin (Getty, OKO Group / Cain International)
830 Brickell and the co-developers Cain's Jonathan Goldstein and Vlad Doronin (Getty, OKO Group / Cain International)

CI Financial I 830 Brickell in Miami

Canadian asset and wealth management behemoth CI Financial will open its new U.S. headquarters at 830 Brickell in Miami’s Brickell Financial District.

Toronto-based CI Financial leased roughly 20,000 square feet at the 55-story tower under construction. Kurt MacAlpine is CEO of CI Financial.

Vladislav Doronin’s OKO Group and London-based Cain International are developing the high-rise, slated for completion in 2022.

Brian Gale and Ryan Holtzman were part of the Cushman & Wakefield team that represented the landlords. Donna Abood and Mark Robbins of Avison Young represented CI Financial.

CI Financial, which has roughly $300 billion of assets under management, will become the second largest registered investment adviser based in Florida, after Raymond James, according to a news release.

The Canadian firm’s move to Brickell comes as South Florida is becoming a magnet for both financial and tech firms, with 830 Brickell attracting some of these tenants.

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(Photos by Sonya Revell)
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This year, private equity and growth capital firm Thoma Bravo, with offices in San Francisco and Chicago, leased 36,500 square feet, and Microsoft leased roughly 50,000 square feet in the tower.

Wells Fargo I Regatta Harbour in Coconut Grove

Wells Fargo opened its new location at the Regatta Harbour mixed-use project in Coconut Grove.

The bank, which has $1.9 trillion in assets, leased 2,373 square feet at 3385 Pan American Drive along Dinner Key. It moved from its nearby storefront at 2665 South Bayshore Drive.

The Treo Group, based in Miami, is developing Regatta Harbour on 9.5 acres with 100,000 square feet of entertainment, retail and restaurants. So far, a $5.5 million overhaul of the former Grove Key Marina was completed. The facility now includes a 400-slip dry storage, which was reconfigured from a previous dry storage; new launch points and lifts; two floating docks with 700 feet of transient floating dockage; and a new fueling station.

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Future development also will preserve and renovate airplane hangars that were used as the first continental Naval air station in the early 1900s and then by Pan Am Airways. The project is expected to be finished in 2022.

The Wells Fargo lease comes on the heels of Anatomy – a fitness center with wellness and beauty services – opening space at Regatta Harbour in May.

Lyle Stern and Sara Wolfe of Koniver Stern Group oversee Regatta commercial space leasing.

MAN Engines & Components I Pompano Business Park in Pompano Beach

German manufacturer MAN Engines & Components renewed three leases for 66,053 square feet at Pompano Business Park in Pompano Beach.

Matthew McAllister and Chris Metzger were part of the Cushman & Wakefield team that negotiated the deals on behalf of MAN. Pete Sheridan of JLL represented the landlord, San Francisco-based Prologis.

MAN Engines & Components is a subsidiary of the Augsburg, Germany-based maker of large-bore diesel engines and turbomachinery, MAN Energy Solutions. MAN Energy Solutions’ products are for marine propulsion systems, power plant applications and turbochargers.

MAN Engines & Components uses its Pompano Business Park facility at 551 Southwest 13th Terrace to package high-speed marine engines for boat builders and distributors. It has a staff of 42 at the site.

Lumas Art I Lincoln Road in Miami Beach

Lumas Art leased space on Lincoln Road in Miami Beach from Terranova. The art retailer will occupy 3,625 square feet at 737 Lincoln Road.

Terranova, based in Miami Beach and led by Stephen Bittel, also secured other leases for some of its other Lincoln Road area buildings. Plant shop Plant Daddy is doubling its space for a one-year term, swimming supply store Sol + Sorbet renewed for six months, and retailer Pop-Up & Shop-Up took space at the Lincoln Eatery food hall. The food hall allows startup businesses to showcase their goods on a weekly or monthly basis.