Norman Foster’s Architectural Firm Signs Miami Office Lease
By Julia Echikson October 30, 2024 12:05 pm
reprints
Foster + Partners, the world-renowned architectural firm founded by Norman Foster, is setting up shop in Miami as its development pipeline ramps up.
The London-based firm signed a 7,000-square-foot lease at the Design 41 building in the Miami Design District, Commercial Observer has learned. The deal includes 4,000 square feet of office space and a 3,000-square-foot terrace.
Located at 112 NE 41st Street, the seven-story building features retail space on the ground floor and offices on the top floors, with 47,500 square feet of leasable space.
Foster remains one of the most recognizable names in architecture, having won the prestigious Pritzker prize in 1999 and designed buildings such as The Gherkin in London, the Hearst Tower in New York as well as a number of Apple stores worldwide.
In recent years, his firm has nabbed a slew of notable projects in Miami. In its biggest get, billionaire Ken Griffin tapped Foster + Partners to design the 54-story headquarters tower for his sister finance companies, hedge fund Citadel and market marker Citadel Securities. The high-rise, set to be built along Brickell’s waterfront, has yet to break ground.
In Miami Beach, the firm has designed two projects for Michael Shvo, for which construction also has yet to start.
The Miami office will become Foster + Partners’ 15th studio. The owner of the Miami building, Design Development Partners, completed the 84,748-square-foot property in 2017. Earlier this year, the company, led by Benjamin Norton, secured a $45 million refinance loan.
Dwntwn Realty Advisors’ Joe Fernandez and Tony Arellano represented the landlord, while Joyce Gato of Douglas Elliman represented the tenant.
Representatives for Foster + Partners did not respond to a request for comment. A spokesperson for Design Development Partners could not be reached for comment.
Correction: The lease footprint was corrected.
Julia Echikson can be reached at jechikson@commercialobserver.com.
