Law Giant Kirkland & Ellis Signs 115K SF Lease For First Miami Office
The largest law firm in the country is opening its first Miami office at 830 Brickell, putting an impressive bow on a record year for the tower and the city's office market.
Kirkland & Ellis signed a lease for 115K SF at 830 Brickell, bringing the 55-story, 640K SF tower to 100% leased months before construction is expected to wrap up, the building's developers announced Monday.
The Chicago-based law firm follows in the footsteps of other legal giants making a South Florida beachhead at the tower: Sidley Austin, Winston & Strawn and Baker McKenzie have combined to lease nearly 100K SF of their own at 830 Brickell, where asking rents are between $125 and $150 per SF.
Beyond the law firms, Ken Griffin's Citadel has leased space at 830 Brickell while it prepares to develop a new headquarters building two blocks away. Microsoft has also committed to opening an office in 830 Brickell, which was initially launched on a speculative basis by developers OKO Group and Cain International.
"When OKO Group and Cain set out to develop 830 Brickell, Miami was on the way to becoming a global destination for professional services, finance and technology firms. Today, the city is a vital business hub, with 830 Brickell serving as a catalyst for international companies moving here," OKO CEO Vlad Doronin and Cain CEO Jonathan Goldstein said in a joint statement. "The arrival of Kirkland & Ellis, along with the building’s other blue-chip tenants, has solidified 830 Brickell as one of the most desirable office towers in the United States and underscores the strength of the Miami market."
Cushman & Wakefield's Brian Gale, Ryan Holtzman and Andrew Trench represented OKO and Cain in negotiations, while CBRE's Kevin Kushner and Newmark's Neil Goldmacher, Mitchell Millowitz and Ryan Rosalsky represented the law firm, which is the largest in the U.S. by revenue, according to the American Lawyer. Sidley Austin and Baker McKenzie are also in the top 10 of the AmLaw 100.
Even before Kirkland & Ellis' lease, 2022 was a record-breaking year for corporate relocations to South Florida. Miami-Dade County's economic development arm said 57 companies either relocated or expanded into the county this year, and another 150 companies are in the pipeline for 2023.
Announced less than a week before Christmas, the Kirkland & Ellis deal is the biggest new-to-market office lease signed this year, the developers said. The firm will move into a building designed by architecture firm Adrian Smith + Gordon Gill. It is the first Class-A office tower in Miami history to deliver fully leased, according to Cushman & Wakefield.
