JLL Brokers More Than 70k SF In Law Firm Leases At Major Tower
A slew of law firms are helping secure more than 70k SF at Southeast Financial Center.
As office landlords in Miami's central business district push rents to record levels, JLL's Donald Cartwright says tenants are "eager to renew, expand and lock in space now."
Donald, along with JLL's Nicole Vassilaros (both here), inked deals with the following firms:
- K&L Gates for a 33k SF extension (with Flagler Investment Property Group's Chris Coots and CBRE's David Fitzgerald repping K&L Gates).
- Stroock & Strook & Lavan, which renewed and expanded to nearly 20k SF.
- Bryan Cave, which inked 10k SF in the tower, with JLL's Dave Preve repping the law firm on its lease renewal.
- Even Shutts & Bowen gobbled up another 6,500 SF for a total of 75,600 SF after relocating from Miami Center last year.
With vacancies dipping below 10% in the CBD, Donald says the demand to renew and lock in lower rates will escalate in the coming months. Southeast Financial Center, owned by JPMorgan, holds more than 1.2M SF and towers over the Miami skyline at 765 feet tall.