Lease roundup: Nuveen scores European bank, Rosen’s RFR nabs coworking firm

BNP Paribas Securities I Brickell I Miami

A subsidiary of European bank BNP Paribas will open an office in Miami’s Brickell, marking continued migration of financial firms to the neighborhood.

BNP Paribas Securities Corporation signed a seven and a half year lease for 7,700 square feet at 801 Brickell Avenue, according to a BNP Paribas news release. The office will open in the fourth quarter, with nearly 50 employees in credit, equities, and macro products services.

BNP Paribas, a publicly traded bank based in Paris, operates in 65 countries. In the U.S., it signed 20-year leases at three properties — two in the greater New York City area and one in the Philadelphia area — in 2020, according to the release. It also has offices in Boston, Chicago, Dallas, Denver, San Francisco and Washington, D.C.

This will be BNP Paribas Securities’ first office in Miami, although BNP Paribas had a wealth management office in the city about a decade ago.

Nuveen Real Estate, the investment arm of TIAA, owns the 28-story 801 Brickell, and has its Southeast headquarters at the tower.

BNP Paribas Securities is the latest to plan a presence in Brickell, which has become an epicenter for financial firm relocations and expansions. Most notably, billionaire Ken Griffin will move his Citadel and Citadel Securities’ headquarters to Brickell.

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Mindspace I 100 Biscayne I Miami

Israeli flex office provider Mindspace will open at Aby Rosen’s 100 Biscayne tower in downtown Miami. 

Mindspace, based in Tel Aviv, signed a 10-year lease for 31,200 square feet on three floors at 100 Biscayne Boulevard, according to a news release from the tower’s owner, Rosen’s RFR Holding. The flex office firm will open in the fall.

Eric Groffman and Cameron Tallon of CBRE represented the landlord. Aaron Ellison and Jeff Gordon of JLL represented the tenant.

Mindspace, co-founded by Dan Zakai and Yotam Alroy in 2014, has more than 40 flex office spaces in 20 cities in seven countries, the release says.

The firm’s 100 Biscayne office, which will have over 450 workstations, is Mindspace’s sixth in the U.S. and second in Miami. It is set to open this year in 30,000 square feet on the entire sixth floor at R&B Realty Group’s The Gateway in Wynwood.

Rosen’s New York-based RFR bought the 30-story, 310,000-square-foot 100 Biscayne building for roughly $90 million early last year. The deal came on the heels of heated litigation between 100 Biscayne’s prior owners, East End Capital and its Australian investment partners, alleging financial woes at the property. One of the suits claimed that a lender had been on the brink of foreclosure, but a last-minute forbearance agreement mandated the building’s sale.

RFR said it has secured 123,000 square feet of new leases and renewals since it bought 100 Biscayne. Existing tenants include LVMH, Bulgari, Hublot, Italian eyewear maker Luxottica and the Zyscovich architecture firm.

Blaze Pizza, Cho:Tu, Gorilla Pizza I Miami-Dade County

Stephen Bittel’s Terranova Corporation scored three restaurant tenants at its Miami-Dade County properties.

Blaze Pizza, a chain that counts LeBron James as one of its early investors, took 2,200 square feet under a 10-year lease at the Palm Plaza shopping center at 16867 Northwest 67th Avenue in unincorporated northwest Miami-Dade, according to a Terranova release.

Terranova, one of the biggest landlords on Miami Beach’s Lincoln Road, also secured two tenants at its properties along the shopping and dining pedestrian street.

Indian street-style food restaurant Cho:Tu signed a two-year deal for 191 square feet at 723 North Lincoln Lane. Gorilla Pizza signed a three-year lease that started in November for 112 square feet at Lincoln Eatery, 723 North Lincoln Lane.

Terranova, based in Miami Beach, has experienced strong leasing activity in recent months, including at its Coral Gables and Palm Beach County properties.  Last year, Cuban coffee house and fast-casual restaurant Cortadito Coffee House took 2,200 square feet at 200 Miracle Mile in Coral Gables. At Terranova’s Shadowwood Square near Boca Raton, baby and children’s clothing retailer Carter’s Retail signed took 4,000 square feet at 9831 Glades Road, and The Great Greek Mediterranean Grill took 2,700 square feet at 9961 and 9963 Glades Road.

Hill York I I-595 Business Center I Dania Beach

Heating, ventilation and air conditioning contractor Hill York will open an industrial space at the I-595 Business Center in Dania Beach.

Hill York, based in Fort Lauderdale, signed a 10-year lease for 28,000 square feet at 3400 Southwest 30th Avenue within the business center. The firm installs, maintains and repairs commercial HVAC systems across Florida.

Ronald Schagrin of Colliers represented the tenant, and Chris Metzger of Cushman & Wakefield represented the landlord.

A Sunny Isles Beach-based entity led by Saul Gilinski owns the warehouse, according to property and state corporate records.

DC Pie Co., Sweet Paris Creperie & Café and Sports Grill I Downtown Doral

Armando Codina’s Codina Partners scored three restaurant tenants at its Downtown Doral development.

DC Pie Co. took about 2,500 square feet at 8455 Northwest 53rd Street, according to a Downtown Doral news release. The restaurant was started by Dominic Cavagnuolo, who is a co-founder of Miami Beach’s Lucali Pizza, known for its modern twist of Brooklyn-styled brick oven pizza.

Sweet Paris Crêperie & Café, based in Houston, took 2,400 square feet at 5335 Northwest 87th Avenue; and Miami staple, Sports Grill, known for its “Special Grilled Wings,” took 3,800 square feet at 5241 Northwest 87th Avenue, the release says.

The three restaurants have opened.

Codina Partners, based in Coral Gables, built the 250-acre mixed-use Downtown Doral as the master-developer, though over the years it has sold portions of the project’s development sites to other builders. Greystar, for one, completed an eight-story, 385-unit apartment building at 8425 Northwest 41st Street in 2020, after paying $19.3 million for the 4-acre site in 2019. Last year, Greystar sold the finished apartment project to GID for $149.8 million.