Southeast Financial Center Inks Expansions With 2 National Law Firms

Southeast Financial Center inked expansions with two national law firms to take a total of 30,026 square feet.
The most recent market reports indicate that professional services firms – especially law – have expanded into the market and continue to experience healthy growth over recent months and years. Home to 26 law firms, Southeast Financial Center continues to bolster its position as the building with the most square footage under lease in the State through its steady flow of transactions with the legal industry, including:

• Stroock & Stroock & Lavan LLP, which provides transactional and litigation guidance to multinational corporations, investment banks and venture capital firms, is slated to occupy 18,426 square feet of the tower’s 31^st floor after expanding by 3,961 square feet. A tenant for almost three decades, Stroock & Stroock & Lavan continues to conduct its legal practice from the ideal destination for business in Miami’s CBD, executing this expansion less than one year after renewing its space.
• Cozen O’Connor, which counsels clients on their most sophisticated legal matters in all areas of the law, including litigation, corporate and regulatory law, will take a total of 11,600 square feet, half of the building’s 44^th floor, after a 2,700 square foot expansion. Cozen O’Connor signed its first lease at Southeast Financial Center for 5,000 square feet in 2006 and has since doubled its space prior to its most recent expansion of 2,700 square feet.

 

“Opportunities for firms to expand within quality, high floor spaces with commanding, unobstructed views are scarce in the market which is why we are pleased to have been able to meet the expansion requirements of both Cozen O’Connor and Stroock & Stroock & Lavan,” said Donald Cartwright, Senior Vice President with JLL.

Cartwright along with JLL Vice President Nicole Vassilaros are the exclusive leasing agents for Southeast Financial Center.
Despite no new construction, office vacancies dropping and rental rates increasing city-wide, seventeen percent of the Miami market is occupied by law firms, and Miami led all major U.S. markets in percentage growth of law firm employees – growing by 3.7 percent over the past 12 months to more than 22,500 people, according to a release.
 

“The recent expansions within the building are examples of law firms in Miami’s urban core realizing and taking advantage of real estate opportunities that will enhance strategies targeted towards today’s workforce,” continued Cartwright.

Southeast Financial Center has undergone notable capital improvements totaling $20.5 million led by debt-free ownership in recent years, within a 24-hour city boasting world-class residential and lifestyle amenities. These improvements include lobby renovations, technological enhancements, and a completely activated plaza with modern design, home to Miami-inspired retail such as The Newsstand Café by Books & Books, Spris, The Cheese Course and new restaurant concept Zest and Zest Mkrt.

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