Trophy tower’s occupancy rises to 77 percent one year after acquisition by Florida’s largest office landlord
MIAMI, September 23, 2022–(BUSINESS WIRE)–CP Group, the largest office landlord in Florida and Downtown Miami, today announced it has finalized two leasing agreements at One Biscayne Tower — a best-in-class, 38-floor office tower in Downtown Miami.
The new deals come approximately one year after CP Group acquired One Biscayne Tower. They include one new agreement and one lease renewal, totaling over 46,000 square feet and bringing the property’s occupancy rate to 77 percent.
Quest Workspaces, a hospitality-driven shared workspace provider, signed a new lease for over 26,000 square feet for their flagship Miami office. Quest was represented by Lance Benson of Newmark.
CMA CGM Group, a global leader in sea, land, air, and logistics solutions, is renewing its 20,000-square-foot space. CMA was represented by Jeremy Hakala and Clay Sidner of Newmark.
The recent leasing activity at One Biscayne Tower follows the leasing of two full floors, totaling nearly 51,000 SF, to global cruise line operator Royal Caribbean at the end of 2021.
“We are happy to welcome Quest to our growing ecosystem of tenants at One Biscayne Tower and retain CMA,” said John Osborne, Senior Vice President at CP Group. “We acquired One Biscayne last year because we recognized the opportunity to attract top-tier tenants to one of Miami’s most exciting submarkets by leveraging the property’s mix of best-in-class-amenities and premier location. As tenants continue to demand superior, well-located office space to facilitate in-person collaboration and employee retention, we expect to see continued interest in not only this tower, but all our Downtown Miami assets.”
CP Group plans to further differentiate One Biscayne by implementing an expansive, multi-million-dollar capital renovations program that will include improvements to the building’s exterior; upgrades to the existing on-site café, lobby, fitness center and tenant floors; and the addition of a conference center.
One Biscayne Tower already offers an expansive suite of amenities that include unobstructed panoramic waterfront views of Biscayne Bay, on-site retail, electric vehicle charging stations, fitness center, and a renovated parking garage. Additionally, the tower is LEED Gold- and Wired-certified. One Biscayne’s prime location in the heart of Downtown Miami offers tenants immediate access to the area’s best lifestyle amenities and provides an ideal commuting experience due to the property’s proximity to major transportation arteries such as I-95, Brickell Avenue, and the MacArthur Causeway.
About CP Group
Active in the commercial real estate business for over 35 years, CP Group has established a reputation as a premier owner, operator, and developer of office and mixed-use projects throughout the Southeast and Southwest United States. Since 1986, CP Group has acquired and managed over 168 properties, totaling over 56 million square feet, valued at nearly $8 billion. It is currently Florida’s largest and Atlanta’s second-largest office landlord and ranks 25th largest in the United States. Headquartered in Boca Raton, Florida, the firm has a corporate office in Atlanta and regional offices in Denver, Miami, Jacksonville, Dallas, and Washington DC. To learn more about the company, visit CPGcre.com.
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Giana Pacinelli, Director of Communications