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830 Brickell PLZ, Miami, FL...

Winston & Strawn Leases 35000 SF Office Space At 830 Brickell PLZ, Miami
LEASEDOffice

Winston & Strawn Leases 35000 SF Office Space At 830 Brickell PLZ, Miami

830 Brickell PLZ, Miami, FL, 33131

Building Size

35,000 SF

Asset Type

Office

Closing

Aug 30, 2022

AI

The office tower at 830 Brickell Plaza in Miami's Brickell Financial District is a 57-story, 638,355-square-foot property designed by Adrian Smith + Gordon Gill. The building, scheduled for completion in late 2022, offers luxury Class A office space with amenities like conference rooms, a wellness center, an outdoor terrace, a rooftop bar, and restaurant. The office tower is aiming for LEED Gold certification and features floorplates ranging between 13,364 and 16,878 square feet. Some of the current tenants in the building include Citadel, Microsoft, Thoma Bravo, CI Financial, and A-CAP.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not provided in the context
  • Address: 830 Brickell Plaza, Miami, FL, 33131
  • Market: Miami
  • Tenant: Winston & Strawn
  • Landlord: OKO Group
  • Square Feet: 35,000

The deal at 830 Brickell Plaza involved Winston & Strawn as the new tenant signing a lease for 35,000 square feet, marking its first office space in Miami. The office tower has been attracting international law firms to migrate to the Miami market due to its strategic location and the array of amenities available. The move by these firms highlights a current trend in businesses relocating to Miami for better-quality office spaces and a heightened reputation in the market. The landlords, OKO Group and Cain International, were represented by Brian Gale, Ryan Holtzman, and Andrew Trench of Cushman & Wakefield, while Winston & Strawn was represented by Mark O’Donnell of Savills in Houston.

Players

Mark O’Donnell

Savills

Broker

5 deals

Broker
OKO Group
OKO GroupLandlord

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