Colliers’ Stephen Rutchik represented the long-term tenant in the lease renewal. JLL’s Steven Hurwitz, Doug Okun, and Madeline Fine represented the landlords in the lease transaction.
The asset last sold for $99.5 million.
Under the proposal, the project will feature 117,000 square feet of office space in seven stories and 557 parking spaces in six stories.
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.
Steven Hurwitz, Doug Okun and Madeline Fine of JLL represented CP Group in the lease transactions.
Gordon Messinger and Randy Carballo with CBRE represented the landlord in lease negotiations, while Jeff Gordon and Iker Belauste with CBRE represented the tenant.
City approval includes permits for 1,243 residential units, 125,000 square feet of retail space, a 140-room hotel, a 55,000-square-foot entertainment arena with seating for 5,000 people, and 85,000 square feet of medical offices.
The lease deal marks the company’s fifth location in Miami, its seventh in the county and 11th in the state.
CP Group’s properties that will soon house worCPlaces include Two Town Center and Boca Raton Innovation Campus in Boca Raton.
The JLL team was appointed leasing agent of the the 810,000-square-foot Downtown Miami landmark Class A office property in April 2022.
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