Stiles Signs Anheuser-Busch to 800 Brickell Office Tower in Miami; Brings Occupancy to 90 Percent
*More than 30,000 SF leased over last year
*Notes increase in expansions and new-to-market tenants while incentives begin to decline
MIAMI, FL – April 2, 2015 – (RealEstateRama) — Stiles Realty, a division of Fort Lauderdale-based full-service real estate firm Stiles, announced international brewery Anheuser-Busch has signed a 63-month lease at 800 Brickell office tower for 3,218 square feet on the second floor. The premium suite is equipped with a 2,000-square foot balcony, a rare feature in this submarket, according to Stiles Realty Associate Jennifer Doering.
“As one of the nation’s top brewery companies, Anheuser-Busch’s lease reinforces 800 Brickell’s status as a premier business center with direct access to key transportation nodes and high quality retail,” said Doering. “For Anheuser-Busch, the suite’s 2,000-square foot balcony was a strong draw as it provides an open-air entertainment space and unobstructed views of the city. Opportunities like this are scarce in Brickell.”
Doering represented the landlord in the lease while Fairchild Partners Senior Vice President Tony Puente and DTZ Senior Managing Director Jay Holland represented the tenant.
The lease brings occupancy to about 90 percent at the 209,122-square foot office building. Doering commented on the increased leasing momentum, noting that more than 30,000 square feet has been signed over to national and international tenants in the last year alone. These include Moss Construction, Zenith Media Services and American Land Ventures.
“As the market continues to tighten, 800 Brickell stands out as a high quality option with a ‘main-on-main’ address and great amenities, such as Au Bon Pain in the lobby,” said Doering. “The property is positioned in the epicenter of activity being only one block from Mary Brickell Village and across the street from the Brickell City Centre project.”
Doering said that the market recovery has stimulated demand at the property, and that many tenants are opting for early renewals to secure longer terms on their leases as options become more limited. According to Stiles Realty’ latest Miami report, office demand in Brickell is increasing while the opportunity for tenant concession packages is starting to decline. In particular, the report noted the waning of typical incentives, such as free rent offerings, which became popular during the downturn. In addition, the Brickell market is benefiting significantly from increased tenant expansions and new-to-market tenants, signaling long-term strength.
Anheuser-Busch has carried on a legacy of brewing some of America’s most popular beers. Best known for its fine American-style lagers, Budweiser and Bud Light, the company’s beers lead numerous beer segments and combined hold 46.4 percent share of the U.S. beer market. Anheuser-Busch is the U.S. arm of Anheuser-Busch InBev and operates 15 breweries, 17 distributorships and 23 agricultural and packaging facilities across the United States.
Boasting 15 stories with a full glass facade, 800 Brickell is a prominent figure in Miami’s dramatic skyline. Its main entrances are framed by a fully landscaped circular courtyard plaza that is enhanced by a water feature at the center of its three-story atrium. An attached parking structure provides 2.7 spaces per 1,000 square feet – the highest parking ratio on Brickell Avenue. The building’s roster of tenants include Conde Nast America, Prudential Insurance Company of America, State Trust Group, Conill/Saatchi and Saatchi Advertising, and Total Bank.
About Stiles
Stiles is a full-service commercial real estate firm with a clear mission: Invest. Build. Manage. Stiles services include development, construction, tenant improvement, realty, property management, architecture, acquisitions and financing. Stiles is responsible for more than 43 million square feet of office, industrial, retail and mixed-use residential projects throughout the southeastern United States. Headquartered in Fort Lauderdale, Stiles maintains regional offices in Miami, Fort Myers, Tampa and Orlando, Florida, and has a development office in Charlotte, North Carolina. For more information, please visit http://www.stiles.com or call 954-627-9300.
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Contact: Adrienne Zalkind, VP Marketing and Communications
Email: adrienne.zalkind (at) stiles (dot) com
Office: 954-627-9148
