noticias
The 830 Brickell tower opens its doors for offices.
Nov 6, 2024
The 55-story tower 830 Brickell recently received its full temporary certificate of occupancy, marking the end of substantial construction on a luxury office property that has attracted some of the most important companies in finance, technology, and law as tenants.
The office tower, located at 830 Brickell Plaza in the Brickell Financial District in Miami, received its full temporary certificate of occupancy last week, according to a spokesperson for the developers OKO Group and Cain International. Although there is still some construction activity, tenants can already move into their respective spaces. According to a statement from the developers, approximately 20% of the 59,460 square meters of office space is already occupied, and the remainder of the tenants is expected to complete the construction of their respective offices by the end of the year.
The building 830 Brickell has been making headlines in the business world since construction began in 2019, securing leasing contracts with companies and firms such as Microsoft, Citadel, and Ken Griffin's Citadel Securities, Thoma Bravo, Banco Santander, A-CAP, Aercap, Kirkland & Ellis, Marsh Insurance, Sidley Austin, CI Financial, and Banco Master. More than 90% of the tenants at 830 Brickell are companies coming from out of state entering the market for the first time, the developers stated.
OKO Group President Vlad Doronin and Cain International CEO Jonathan Goldstein stated in a joint statement that 830 Brickell has become a magnet for companies looking to establish themselves in South Florida.
"The building has been a catalyst for the migration of companies to South Florida, becoming the headquarters for some of the world's most important firms in finance, technology, and professional services, and enhancing an office market that continues to outperform other cities," noted Doronin and Goldstein.
The office tower is also among the most expensive properties to rent in the tri-county area. This summer, the Brazilian bank Banco Master signed a lease at 830 Brickell for approximately 2,415 square meters of space at $2,045 per square meter.
Designed by the architecture firm Adrian Smith + Gordon Gill, the 220-meter tall tower features amenities that include a Mediterranean restaurant with an outdoor terrace, a private rooftop bar/club with views of the Miami skyline and bay, a wellness and health center, conference facilities, an outdoor terrace, and street-level cafes and shops. It also offers 24-hour security, 24-hour concierge service, and dry-cleaning services. Additionally, 830 Brickell is directly across from a Metromover station.
Originally scheduled for completion in 2022, the project faced multiple delays. As a result, some tenants left or downsized their office space. However, that space was quickly taken by other tenants, including Citadel, which expanded its space from 8,640 square meters to 12,077 square meters.
In July, the developers of 830 Brickell secured another $565 million in financing. The loan is being used to pay off an existing construction loan of $300 million issued by MSD Capital in 2019.