Ritz Carlton Yacht Arm Leases in FLL, Hermès in the Gables
Plaza 100 building and the Brickell Arch office tower (JLL, Brickell Arch, iStock)
Cruise Yacht Opco I Plaza 100 I Fort Lauderdale
Ritz Carlton’s luxury yacht service division Cruise Yacht Opco is moving its offices to the Plaza 100 building in Fort Lauderdale from Miami’s Coconut Grove neighborhood.
Cruise Yacht Opco leased the entire penthouse spanning 17,000 square feet at the building at 100 Northeast Third Avenue, according to a news release from the landlord’s broker. The office will accommodate 60 employees.
Doug Okun and Steven Hurwitz of JLL represented Zurich Alternative Asset Management. Keith Edelman and Scott Goldstein of CBRE represented the tenant.
Zurich Alternative Asset Management, formed in 2006, is Zurich North America’s dedicated alternative asset management platform that invests solely on behalf of Zurich affiliates worldwide, the release says.
Zurich Alternative Asset Management bought the 11-story, 175,510-square-foot Plaza 100 in 2016 for $46.5 million.
Existing tenants include U.S. Legal, Oppenheimer, Katz Barron and Mombach, Boyle, Hardin and Simmons.
In other recent Fort Lauderdale leases, Ivy Realty’s Tower 101 at 101 Northeast Third Avenue scored four tenants in May. They include Boston-based development services provider Reveneer, which took 18,392 square feet on the 17th floor, and Kentucky-based logistics firm Ryan Transportation, which took 4,600 square feet on the 12th floor.
Integral Group Solution, PartnerRe I Brickell Arch I Miami
E-commerce and sales services firm Integral Group Solution, and reinsurer PartnerRe are opening offices at Brickell Arch.
Integral Group took 2,098 square feet, and PartnerRe took 3,714 square feet at the 36-story mixed-use building at 1395 Brickell Avenue, according to a news release from the tenants’ broker.
Adam Talbot of Cresa Miami represented Integral Group; and Robert Orban and Zachary Talbot, also of Cresa, represented PartnerRe.
PartnerRe, which has more than $9 billion in capital, will move from the 701 Brickell Avenue building, a Cresa spokesperson said. Integral Group is a new-to-market firm.
Dallas-based Gaedeke Group, through an affiliate, bought the 36-story tower in 2015 for $145 million, property records show. The building also has a 225,000-square-foot Hotel AKA Brickell, which is owned by Mast Capital and private equity firm Angelo, Gordon & Co.; 116 individually owned condo units on the top 10 floors; 16,614 square feet of retail and a 12-story attached garage, according to Brickell Arch’s website. The office space spans 268,024 rentable square feet.
The Brickell Financial District has captured much of the influx from out-of-state companies.
New York-based insurance and financial services firm A-CAP will open its first Miami office in a full floor, 20,000-square-foot space at the 830 Brickell tower, which is under construction.
Alternative credit investment manager Vibrant Capital will open its first office outside its New York City headquarters in a 3,000-square-foot space at 1200 Brickell Avenue.
Hermès Parfum & Beauté Americas, more I 150 Alhambra I Coral Gables
The Spanish investors who own the 150 Alhambra office building in Coral Gables scored four new tenants, including French luxury design house Hermès Parfum & Beauté Americas.
Hermès Parfum will move into a 4,623-square-foot space at the 13-story Class A building at 150 Alhambra Circle, according to a news release from Blanca Commercial Real Estate.
Juan Ruiz and Jack Davidson of Blanca represented the landlord, MDR Americas.
Publicly traded electric motor manufacturer Regal Rexnord also leased 1,317 square feet, according to a spokesperson for the brokers. Law firm Sugarman Susskind Braswell & Herrera took 3,443 square feet, and management consulting firm PRI Management Group took 1,183 square feet, both for their headquarters.
All four tenants will open in the third quarter and are moving from elsewhere in South Florida.
Existing 150 Alhambra tenants include First Horizon Bank, IMG Worldwide and Caracol Televisión.
An MDR Americas affiliate, led by Spain-based investors Manuel M. Llarena, Maria Moratiel del Pilar Entrena and Emilio M. Moratiel, paid $34 million for the building in 2015. In 2012, the trio also partnered with Rilea Group on a Brickell development site, which now is The Bond condominium.
150 Alhambra has 108,959 rentable square feet and was constructed in 1984 on 0.8 acres, according to the release and property records. MDR Americas has invested more than $6.5 million in capital improvements since 2018.
In other recent Coral Gables leases for office space, The Consulate General of Barbados and New York-based investment firm Empirex Capital signed deals in January at Ofizzina at 1200 Ponce de Leon Boulevard.
CMA CGM I One Biscayne Tower I downtown Miami
Global shipping and logistics firm CMA CGM extended its lease at One Biscayne Tower in downtown Miami through 2031.
CMA CGM inked the deal for a 20,173-square-foot space at the 40-story building at 2 South Biscayne Boulevard more than five years before its existing lease is set to expire, according to a news release from the tenant’s broker.
Clay Sidner and Jeremy Hakala of Newmark represented CMA CGM. Brian Gale and Ryan Holtzman of Cushman & Wakefield represented the landlord.
Extending the lease early allowed CMA favorable economic terms to hedge against rising interest rates, Hakala said in the release.
The deal comes a year after a venture among CP Group and funds managed by Rialto Capital Management and Sabal Capital Partners purchased the 620,000-square-foot building for $225 million. The seller was multinational chemical producer Dow Chemical.
Although downtown Miami has not captured as much of the new-to-market influx as Brickell, it still has seen some activity.
In June, Aby Rosen’s 100 Biscayne scored fintech FundKite as a tenant, with the company moving its headquarters to the 30-story office tower from New York. FundKite leased 5,302 square feet at the building at 100 Biscayne Boulevard.
