Leases  ·  Office

Two Laws Firms Join Amerant Bank HQ in Coral Gables

reprints


Two law firms are relocating to the Coral Gables building that houses Amerant Bank’s headquarters, inking deals that total 29,000 square feet.

In the larger deal, The Morgan Law Group signed a 20,000-square-foot lease inside the Amerant Center, a 13-story office at 220 Alhambra Circle.

SEE ALSO: Washington Post Renews at DC’s Tallest Office Tower

The law firm — which currently occupies 16,000 square feet at the nearby 55 Merrick Way — is scheduled to relocate next quarter and will occupy the entire fifth floor. Robert Orban and Zachary Talbot of Cresa represented the tenant.

The second law firm moving to Amerant Center is Kelley Kronenberg, which signed a 9,000-square-foot lease to occupy a portion of the fourth floor. The law firm currently has an 11,000-square-foot office at 1111 Brickell Avenue, a tower known as the Sabadell Financial Center

Kelley Kronenberg, represented by Tyler Harrison with Equistone Partners, is scheduled to relocate next month.

Amerant Bank is the largest tenant in the 177,000-square-foot building, occupying about 60,000 square feet, according to CBRE’s Gordon Messinger, who represented the landlord in all lease negotiations. The building is 90 percent leased. 

In 2021, the regional bank sold the property, which was completed in 1997, for $135 million in a sale-leaseback deal to Fortress Investment Group. The New York-based investment firm also owns the Brightline rail line.

“As total office availability has fallen below pre-pandemic levels, we continue to see corporations and professional service firms re-evaluate their space needs and find cost savings outside of the Miami central business district, such as Coral Gables, which provides walkability to nearby amenities for employees to enjoy,” Messinger said in statement. 

On the retail front, Heavenly MedSpa signed a 3,100-square-foot lease on Amerant Center’s ground floor. The medical spa, slated to open later this year, will mark Heavenly’s first spa in South Florida and third nationwide.

Julia Echikson can be reached at jechikson@commercialobserver.com