Law Firm Sidley Austin Takes 60K-SF at 830 Brickell in Miami
By Julia Echikson July 21, 2022 2:57 pm
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Sidley Austin, one of the country’s largest law firms, is the latest tenant entering Miami, taking 60,000 square feet at the city’s hottest office development, 830 Brickell.
The office tower, which is slated for completion later this year, will be home to the law firm’s 21st office, where it will join other high-profile tenants such as Microsoft, A-CAP, Thoma Bravo, CI Financial, Marsh Insurance and AerCap as well as another prominent law firm, Winston & Strawn.
The deal is yet another example of professional firms flocking to Miami to service the financial and tech companies that have set up shop in the city since the start of the pandemic. A Sidley Austin competitor, law firm Kirkland and Ellis, is now touring the Miami market and accounting giant PwC is opening a base in Wynwood after inking a 38,000-square-foot lease earlier in June.
“As a Miami native, I know this community well and am excited about the talented lawyers who we have already recruited to serve our M&A, private equity, financial services, tech, cybersecurity and privacy, healthcare, real estate, entertainment, sports, and media, SEC regulatory and enforcement, and global finance clients,” Yvette Ostolaza, Sidley Austin’s chair of the management committee, said in a statement.
Sidley Austin’s three-floor deal brings the 55-story to nearly 70 percent leased, according to developers Oko Group and Cain International. 830 Brickell’s asking rent has soared to as much as $150 a square foot, making it Miami’s most expensive office offering.
“Brickell has acted as a bellwether in the South Florida office market, and we anticipate increased demand in 830 as Miami grows into a global hub for talent, lifestyle and innovation,” OKO and Cain’s chief executives, OKO’s Vlad Doronin and Cain’s Jonathan Goldstein, said in a joint statement.
Cushman & Wakefield’s Brian Gale, Ryan Holtzman and Andrew Trench represented the landlords. Jeff Gordon and Barbara Black of JLL worked on behalf of the tenant.
Representatives for JLL and the developers declined to comment on the length of the lease.
Julia Echikson can be reached at jechikson@commercialobserver.com.
