As Miami office tenants search for high quality assets amidst volatility in the commercial real estate market, the ownership of Brickell Bay Office Tower is investing millions in capital improvements with the goal of retaining existing users and attracting new ones. Following $1 million in upgrades to the building’s corridors and common areas, the tower’s elevator system will now undergo a $1.8 modernization project. Planning is underway by Schindler Elevator Corp., with construction work set to begin this spring. Additional improvements will include the installation of glass sculptures in the tower’s lobby and atrium, new outdoor seating in a landscaped patio, and updated design finishes.
The capital improvements come as Brickell Bay Office Tower maintains an above-market occupancy rate of 91%, having completed leases totaling more than 100,000 square feet in 2011. Building tenants include AON Group; Morrison, Brown, Argiz, & Farra, LLP; Mallah Furman & Company; law firm Cantor & Webb; Vector Global Wealth Management Group; the British Consulate; Right Space Management; 1st United Bank; Newmark Southern Region LLC (a subsidiary of Newmark Knight Frank); Latin Trade Media Group; IBOPE-Zogby; and national bakery and café chain Au Bon Pain.
“The improvements we are undertaking at Brickell Bay Office Tower are proving extremely beneficial in our efforts to draw tenants seeking top tier office space in the heart of the Brickell Financial District,” said Christian Driussi, Vice President for Brickell Bay Office Tower. “Even more important, these upgrades are illustrating ownership’s commitment to preserving a superior building environment, resulting in strong tenant retention that has solidified our top-tier position within the market.”
In addition to introducing the most advanced safety features and technology available, the elevator enhancements will result in reduced energy consumption, faster transport speeds and added convenience for building tenants and visitors. The system’s cables, motors, gear boxes and rails will all be upgraded. Elevator cabin interiors in the tower’s high rise and low rise structures will also be refitted with LED lighting, marble flooring, and decorative wall finishes.
Located at 1001 Brickell Bay Drive, in the heart of Miami’s Brickell Financial District and directly overlooking Biscayne Bay, Brickell Bay Office Tower offers floor plates ranging from 10,896 to 18,622 square-feet. Amenities include an on-site bank and ATM, a lobby cafe, covered parking with an above-market ratio of 3 : 1,000, a car wash service, and 24-hour manned security.
Learn more at the building’s website, www.1001brickellbay.com, or by calling the leasing team at (305) 536-1001.
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