Wachovia Financial Center recently announced that six tenants have signed a total of 62,990 square feet of office leases at Miami’s tallest and largest office tower & center.
As many corporations begin to examine long-term real estate needs and options within the framework of its financial statements, renewals within or relocation to properties that are debt free and with a track record of successful operations are high priorities. “There have been various examples in the past year of companies relocating in a quick fix effort to reduce operating costs. However, long term implications may prove hazardous,” said Don Cartwright, Director of Leasing with Cushman & Wakefield. “With more than 1,000,000 square feet in occupancy (more than any other office tower in the state of Florida) and more activity forthcoming, we are confident that tenants view our attributes at Wachovia Financial Center unique and perfectly inline to business needs.”
Cushman & Wakefield’s Don Cartwright, Director of Leasing, and Nichole Lamoureaux, Leasing Associate for Wachovia Financial Center, oversaw the marketing and lease negotiations on behalf of the property owner, J.P. Morgan Asset Management.
The recent transactions include:
- Duane Morris LLP signed a 7-year lease renewal for the entire 34th floor of the building, totaling 22,822 square feet.
- Houck Anderson signed an early renewal extension of 10-years for 15,678 square feet, including an expansion of 1,445 square feet.
- Atlas Wealth Management signed a 10-year extension on their 11,206 square foot location.
- Porsche Latin America signed a 5-year lease renewal and expansion for its Latin American headquarters. Porsche will relocate within the building from its current 3,600 square feet location to 5,881 square feet.
- David M. Garvin, P.A./Julie C. Ferguson, P.A. signed a 5-year, 4,093 foot lease, including an expansion of 800 square feet.
- Development Specialists, Inc. inked a 5-year, 3,310 square foot lease.
“These recent deals reflect the comfort tenants are provided being in an operating property that is debt free and with a transparent ownership group seeking to maintain the legacy of the iconic property long term,” said Mr. Cartwright.
With more than one million square feet in use, Wachovia Financial Center has more square footage occupied than any other office tower in the state of Florida. The building was recently named Outstanding LEED EB Project by the U.S. Green Building Council’s South Florida Chapter.
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