Ken Griffin's Citadel Expands To 130,000 SF Office In Miami Deal
830 Brickell Plaza
Building Size
130,000 SF
Asset Type
Office
Closing
Jun 13, 2024
AI
The office property located at 830 Brickell Plaza in Miami was involved in a lease transaction. The asset spans 130,000 square feet and served as the new headquarters for Citadel, following billionaire Kenneth Griffin's decision to relocate the company from Chicago to Miami.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not provided
- Address: 830 Brickell Plaza
- Market: Miami
- Landlord: Vlad Doronin - OKO Group; Jonathan Goldstein - Cain International
- Tenant: Ken Griffin - Citadel
- Brokers: Andrew Trench, Brian Gale & Ryan Holtzman - Cushman & Wakefield
Billionaire Kenneth Griffin, the founder of Citadel, made the strategic decision to expand the company's headquarters by moving it to the 830 Brickell tower. The move aimed to accommodate 450 employees by the end of summer, with plans underway for a custom headquarters on Brickell Bay Drive.
Players
Miami Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93