Avison Young announced the completion of an 11,300-square-foot lease on behalf of Lott & Fischer, PL, an intellectual property and patent law firm, which will take the entire top floor at 255 Aragon Avenue in Coral Gables.
Donna Abood, Principal and Managing Director of Avison Young’s Miami operations, who has represented the law firm for over 25 years, negotiated this lease which marks Lott & Fischer’s relocation and expansion by 2,331 square feet within the Miami submarket.
“As job growth continues throughout Miami including Coral Gables, demand for class A office space has increased, with law firms leading office-using sectors looking to expand. Additionally, limited construction in Coral Gables has further hindered quality office space availability and resulted in a 9.2 percent vacancy rate, one of the lowest in Miami-Dade County,” said Abood. “Lott & Fischer sought to capitalize on the expiration of its current lease to expand its office space at a more ideal location with a lower rental rate. Despite the high demand for office space in Coral Gables’ current landlord market conditions, we successfully negotiated a lease at $10 less per square foot, meeting the space, location and fiscal requirements of our client.”
The new office space at 255 Aragon Avenue is isituated near Miracle Mile, the popular business and shopping stretch within the core of downtown Coral Gables. Moving from its current 8,969 square foot space at 355 Alhambra Circle, Lott & Fischer’s new locational amenities include Books & Books situated adjacent to the building and a large public parking lot serving employees and clients directly across the street.
“We have worked with Donna throughout our last four office lease transactions and have great respect for her professionalism, attention to detail, and sensitivity to our priorities,” said Leslie J. Lott, Esq., Intellectual Property Attorney and Founding Partner with Lott & Fischer. “255 Aragon’s distinct architectural character and favorable location in close proximity to the Coral Gables Museum provides the ideal home for our new office.”
Scott Sime, President of Sime Realty Corporation, represented the landlord during this lease transaction.
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