CP Group Sees High Demand for Office Space at Citigroup Center in Downtown Miami

As most cities across the U.S. struggle with declining office space demand, Miami's market is bucking the trend. A prime example is the Citigroup Center, a 34-story tower in Downtown Miami that has recently seen significant leasing activity.

Citigroup Center Sees High Demand

Located at 201 South Biscayne Boulevard, the Citigroup Center has announced 46,000 square feet of new transactions. The building, which spans 810,000 square feet, is attracting new tenants despite market challenges elsewhere. Although specific lease terms remain undisclosed, asking rents are reportedly between $65 and $67 per square foot.

New Tenants Move In

Three new tenants have recently signed leases at Citigroup Center. A law firm relocating from Miami’s Brickell area secured 18,781 square feet of space, with representation by CBRE's Grant Killingsworth and Merrill Carr. Another law firm, Rottenstreich Farley Bronstein Fisher Potter Hodas LLP, leased 6,862 square feet, with Newmark's Ryan Rosalsky acting on their behalf. Additionally, Pescanova, a seafood company, took a 2,513-square-foot spec suite, represented by Jake Freeman of Colliers.

Lease Renewals Maintain Steady Occupancy

Citigroup Center also secured four lease renewals. Olios Health, a medical practice management company, renewed its lease for 2,334 square feet, while The Bank of Nova Scotia continued its tenancy with 3,256 square feet. An unnamed government agency renewed its 11,296-square-foot lease, and Gault’s, an Italian eatery, renewed 644 square feet of retail space.

Downtown Miami's Growing Appeal

The continued leasing success at Citigroup Center highlights the strength and appeal of Downtown Miami's office market. Steven Hurwitz, Doug Okun, and Madeline Fine of JLL, representing the landlord, emphasized that the strong leasing activity at the tower underscores the area's dynamic and attractive business environment.