A sign that Miami’s legal and professional services sector continues to place value on high quality, historically significant architectural design and industry leading management, the One Flagler Building on Flagler Street in downtown Miami is experiencing significant leasing activity.
The 15-story office tower was acquired by Midgard Group in May 2010.
Benchmark Realty Group, the exclusive marketing and leasing agent, has executed leases for more than 30,000 square feet in the last 90 days.
The increased activity comes as a direct result of recent building improvements, propelling One Flagler to the best value in Downtown Miami. The transactions completed consist of one significant renewal and expansion, but is mostly a result of new tenants committing to the building.
Tabas, Freedman, Soloff, Miller & Brown, a prominent Miami-based bankruptcy and business law firm, has renewed its lease for the Penthouse and has also taken 75% of the floor below; with 11,584 square feet the firm will be one of the building’s largest tenants. The transaction was handled by the Midgard’s Director of Real Estate, Lynn-Ann Ierna and represented by Jeremy Green of Benchmark Realty Group.
“We are very pleased to expand our Firm at One Flagler. The ownership group has made a strong commitment to this iconic building in the heart of Miami’s legal district and Midgard Management has reinvigorated the building’s operations making it a natural choice for us to extend our lease and expand within the building,” said Joel Tabas, for Tabas Freedman.
Midgard Group has completed a substantial improvements program consisting of enhancements to the HVAC system including a new cooling tower, upgraded chillers and a mini-chilled loop providing cooling and heating with state-of-the-art energy management systems – one of the major steps in bringing the building to LEED certification. Additionally, corridor ceilings are being raised to 10 feet, entry doors to 8-foot solid wood and tenant build outs to include a significant amount of glass to allow for ample natural light in all areas of the offices while producing a nearly 100% occupancy of the retail lineup.
This ambitious improvement program was enough to attract Wadsworth Huott, LLP to occupy an entire floor at One Flagler.
“Our Firm has had our eye on relocating to One Flagler for a number of years. We have been extremely impressed with significant improvements that Midgard has made to the property. We have experienced growth in our business and the ability to move our firm to such a high quality building with industry leading management was an easy choice.” said Christopher Wadsworth, the Firm’s Managing Partner.
“This is very exciting news for One Flagler and establishes the building as a premier option for professional service firms seeking modern office space in a historically significant, landmark building,” said James Goldstein, President of Midgard Group, “With our recent completion of the restoration of our retail storefront and subsequent re-tenanting we are well on our way to restoring Lapidus’ original vision in an emerging Downtown”.
One Flagler is exclusively represented by Benchmark Realty Group.
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