Downtown Miami’s Citigroup Center Inks New Leases
By Jeff Ostrowski August 9, 2024 12:35 pm
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As Miami’s office market continues to defy trends hindering most cities around the U.S., a trophy tower downtown said it’s seeing strong demand for space.
Citigroup Center, an 810,000-square-foot, 34-story tower at 201 South Biscayne Boulevard, announced 46,000 square feet in transactions. The landlord, CP Group, didn’t disclose lease terms, but asking rents at the building are $65 to $67 per square foot, according to LoopNet.
The agreements involve three new tenants. An unnamed law firm is moving from Miami’s Brickell and signed a lease for 18,781 square feet, Citigroup Center said Thursday. CBRE (CBRE)’s Grant Killingsworth and Merrill Carr represented the tenant.
In another law firm deal, Rottenstreich Farley Bronstein Fisher Potter Hodas LLP signed a lease for 6,862 square feet. Newmark (NMRK)’s Ryan Rosalsky represented the tenant. And Pescanova, a seafood company, signed a lease for a 2,513-square-foot spec suite. Colliers’ Jake Freeman represented the tenant.
Citigroup Center also announced four lease renewals. Medical practice management company Olios Health re-upped for 2,334 square feet, The Bank of Nova Scotia renewed 3,256 square feet, an unnamed government agency renewed 11,296 square feet, and Italian eatery Gault’s renewed 644 square feet of retail space.
Steven Hurwitz, Doug Okun and Madeline Fine of JLL (JLL) represent the landlord in the leasing of Citigroup Center.
“The leasing activity at Citigroup Center underscores Downtown Miami’s appeal as a dynamic office market,” Hurwitz said in a statement.
Jeff Ostrowski can be reached at jostrowski@commercialobserver.com.
