Goldman Sachs Doubles Miami Office at Southeast Financial Center
By Julia Echikson September 27, 2022 6:37 pmreprints
Goldman Sachs is doubling its Miami office footprint.
The investment bank inked a 35,000-square-foot lease at Southeast Financial Center in Downtown Miami, where it’s been based since 1988, according to a spokesperson for Goldman Sachs. The deal closed this month.
In about a year, the company will move from the 37th floor, where it occupies 17,400 square feet, to the 52nd and 53rd floors.
“We’ve seen tremendous growth in Miami over the past few years, and we want to ensure that we’re growing where our clients are and the talent is,” Rob Barlick, regional head of Florida and Latin America at Goldman Sachs Private Wealth Management, said in a statement.
The bank’s Miami lease marks the financial giant’s latest expansion into South Florida following the COVID-19 lockdowns and the mass migration of high-net-worth individuals out of New York.
Last year, the financial giant opened an office at Related Companies’ 360 Rosemary in West Palm Beach.
Located at 200 South Biscayne Boulevard, Southeast Financial spans 2 million square feet and counts as tenants coworking operator WeWork, law firm Reed Smith, and Brazilian bank BTG Pactual.
Financial firm Citadel, led by Ken Griffin, is leasing a temporary office at Southeast Financial as it develops its headquarters in the nearby Brickell district.
The building’s owner, Zara founder Amancio Ortega, could not be reached for comment. The Spanish billionaire paid $516.6 million in 2016 for the 55-story office building, a deal that remains one of Miami’s largest commercial real estate transactions, according to property records.
Julia Echikson can be reached at Jechikson@commercialobserver.com.
Correction: Goldman Sachs has occupied an office at Southeast Financial Center since 1988, but hasn’t always leased 17,400 square feet as previously reported.