Northern Trust has announced plans to relocate its Miami offices across the street from its current home to 600 Brickell, at Brickell World Plaza.
The move is scheduled to take place by the end of 2013. Northern Trust will occupy 62,000 square feet of space on three floors as well as a 2,000 square-foot lobby level banking center.
“As Northern Trust continues to expand throughout Florida, the time has come for us to accommodate the changing needs of our employees and clients by relocating to 600 Brickell, which offers first rate infrastructure and amenities,” said John Fumagalli, head of Northern Trust in Florida. “Our move to a more modern space, where we will have outstanding skyline and plaza signage, supports our regional growth strategy.”
The 600 Brickell building features an internationally-certified information technology security system, expandable IT capacity and a green environment, including LEED Platinum pre-certification.
Northern Trust’s current location at 700 Brickell, was acquired by Swire Properties, one of South Florida’s leading international real estate developers. Northern Trust, together with other joint owners, completed the sale of the office building property at a price of $64.1 million on July 15, 2013. Northern Trust expects to recognize a pre-tax gain in the third quarter of 2013 of approximately $30 million on the sale of its interests in this property.
Get the latest industry news and information from CRE-sources delivered right to your email inbox! And we promise…no more than one email each morning.
And we promise…no more than one email each morning.