Brazilian Financial Firm Enters Market, Inks Full-Floor Lease Deal
Southeast Financial Center has inked a new-to-market lease for 5,500 square feet with BTG Pactual, a Brazil headquartered global financial firm specializing in investment banking, asset and wealth management.
BTG Pactual will take the entire 54th floor – the highest floor of office space available in the state – in the 1.225 million square foot tower owned by institutional investors advised by J.P. Morgan Asset Management.
“This was a unique opportunity for a new-to-market tenant to lease a quality, high floor space with commanding, unobstructed views – something highly scarce in the Miami market,” said Donald Cartwright, Managing Director with JLL. Cartwright and Nicole Vassilaros, Vice President with JLL, serve as the exclusive leasing agents for Southeast Financial Center.
2015 has been marked with a steady flow of expansions and renewals within downtown Miami as businesses eye for the future. As a result, Miami’s overall total office vacancy rate remains among the lowest in Florida – currently at 13.1 percent – and is outperforming the national vacancy rate, which is 13.4 percent, according to recent market reports. However, new-to-market transactions – especially those led by international financial service institutions – are crucial for long-term growth and stability.
“Southeast Financial Center has long been emblematic of Miami as a global business center, and is home to a world-class list of internationally recognized legal, financial, professional and corporate tenants,” added Cartwright. “One of the largest financial institutions in Brazil, BTG Pactual is a great complement to the tenant roster at Southeast Financial Center.”
As background, more than 700 multinational companies have been lured to Miami over recent decades, drawn by its proximity to Latin America and the Caribbean, and the signing of this new lease at Southeast Financial Center with BTG Pactual reaffirms the ongoing trend. With a presence in Brazil, Chile, Peru, Columbia, Mexico, United States, United Kingdom and China, the firm consistently creates value for its clients and shareholders and offers its service beneficiaries business opportunities in a broad range of regions.
Rashid Siahpoosh, Managing Director with Newmark Grubb Knight Frank, represented BTG Pactual during this lease transaction.
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