Florida East Coast Realty (FECR) is offering commercial/office space for lease at the building ranging from approximately 19,000 square feet on the 16th floor to 52,000 square feet on the 17th floor, with a contiguous block of ±72,000 square feet still available.
BEC Realty Trust, led by Frank Espinosa, paid $9,200,000, the full asking price, marking a twenty-five percent increase in value.
The foreclosure auction is set for July 2.
He will be responsible for the firm’s Miami, Fort Lauderdale, Boca Raton, and West Palm Beach markets and oversee more than 450 professionals across the South Florida region.
Phase II will consist of 6,000 square feet of ground-floor retail space and 42,000 square feet of creative office space, slated for completion in Q2 2026.
While set to open in 2025, the building is already 25% pre-leased.
The development encompasses three contiguous properties that span 49,000 square feet.
The leases total 14,201 square feet, or approximately 10% of the total rentable space.
The executed deals include two lease renewals, one expansion, and seven new leases, all of which were for Miami Tower’s newly completed spec suites.
The 33-story bayfront tower is more than 90% occupied.
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