Lease roundup: Citadel expands at 830 Brickell, cloud consulting firm opens HQ in Boca Raton

Citadel | Miami’s Brickell 

Billionaire Ken Griffin’s Citadel expanded its office at the 830 Brickell tower that is expected to be completed this summer. 

Citadel leased the 13,100-square-foot 14th floor and the 14,400-square-foot 15th floor at the 55-story tower at 830 Brickell Plaza in Miami, said Brian Gale, who is part of the Cushman & Wakefield team leasing the tower. 

The deal gives Citadel a total of roughly 130,000 square feet at the tower, after the hedge fund leased roughly 95,000 square feet at the building in 2022. 

Griffin, whose net worth Forbes pegs at $37.1 billion, has made a major play on Miami’s Brickell Financial District, moving Citadel and Citadel Securities’ headquarters from Chicago to Miami in 2022. The firms’ spaces at 830 Brickell, as well as at the Southeast Financial Center at 200 South Biscayne Boulevard in downtown Miami are temporary offices. The companies are expected to move into a new headquarters tower to be developed on the bayfront lot at 1201 Brickell Bay Drive. Griffin paid a record $363 million for the land in 2022. 

Griffin’s latest expansion at 830 Brickell is a takeover of space originally leased by new-to-market tenant Kirkland & Ellis. The law firm took 115,000 square feet at the tower in 2022. Now, it gave up the 14th and 15th floors in exchange for the 34th and 35th floors at the tower, which are contiguous to the rest of its leased space, Gale said. 

Brickell has been a top choice among out-of-state companies expanding or moving to South Florida over the past four years, making the neighborhood resilient to office vacancy woes plaguing the rest of the U.S. 

Some gaps have started to appear in Brickell’s market, too. The 34th and 35th floors that Kirkland took were available after law firm Winston & Strawn opted out of its lease. It had leased the space totaling 35,000 square feet in 2022. 

Winston & Strawn declined to comment on why it pulled out of 830 Brickell. 

Vlad Doronin’s Oko Group and Cain International, led by Jonathan Goldstein, are developing 830 Brickell. While completion of the building is two years late, Gale said the tower is expected to be finished by the end of next month. 

830 Brickell is fully leased. 

Innovative Solutions | Boca Raton 

Cloud consulting and services firm Innovative Solutions opened a second headquarters in Boca Raton. 

The company opened a second headquarters at 1499 West Palmetto Park Road in the Boca Raton Innovation Campus, Innovative Solutions’ website shows. The company’s other headquarters is in West Henrietta, New York. It also has an office in Austin. 

The firm, which committed to creating 30 jobs in Boca Raton and plans to increase this to 100 jobs in the future, will receive $60,000 from a Boca Raton economic incentives fund, according to the city’s office of economic development’s news release. The Boca Raton Economic Development Incentives Policy fund allocates $1 million annually to incentivize economic growth, including companies’ expansion to the city. 

Boca Raton has committed nearly $5.8 million in incentives to 85 companies since 2010, the release says. 

Grover Corlew, based in Boca Raton, owns the building where Innovative Solutions opened. The firm’s principals are Mark Corlew and Anuj Grover.

Innovative Solutions’ square footage at the building wasn’t immediately provided. 

NOE Sushi Bar | South Miami 

Chef Noe Carmona will open the first U.S. outpost of her NOE Sushi Bar in South Miami. 

NOE Sushi Bar leased the former Mi’talia Kitchen & Bar space at 5958 South Dixie Highway, according to the tenant’s news release. The restaurant, which will open next month, will have seating for 140 guests. 

NOE, a Japanese-Ecuadorian fusion restaurant, has nearly 40 outposts in Ecuador, the Miami New Times reported. 

Coral Gables-based Greenstreet Partners owns the South Miami building, records show.  Jeffrey Safchik and Steven Green, a former U.S. ambassador to Singapore, founded and lead Greenstreet. 

The restaurant’s square footage wasn’t immediately provided.

The Food Republic | Fort Lauderdale 

Chef Nikol Zarbalas opened a new restaurant in Fort Lauderdale’s Victoria Park neighborhood. 

Zarbalas leased 1,500 square feet for The Food Republic restaurant at the Gateway Shopping District at 1910 East Sunrise Boulevard, according to the broker’s news release. The eatery can seat 50 guests. 

Jaime Sturgis of Native Realty represented the landlord, and Jeremiah and Sarah Adler of the same brokerage represented the tenant. 

An entity managed by Sturgis owns the building, according to records. It paid $2.5 million for the property in 2022. 

The Gateway Shopping District has gone through several transformations. In 1940, it was the Jungle Zoo tourist attraction and then functioned as a supermarket, big-box retail space and a boutique neighborhood plaza, the release says. 

Zarbalas, who has been featured on Guy Fieri’s “Guy’s Grocery Games” show, owns the Hellenic Republic restaurant at 2764 North University Drive in Coral Springs.

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