Taylor & Mathis Completes 43,500 SF Lease Renewal

In the largest Coral Gables lease this year, Taylor & Mathis has finalized the 43,500-square-foot renewal of UBS at 550 Biltmore, the iconic pyramid-shaped landmark in Coral Gables.  The 12 year, multi-million lease was brokered by Taylor & Mathis Director of Leasing, Ryan Holtzman and UBS broker, Tony Jones of Cushman & Wakefield.
“We are ecstatic that UBS decided to keep their domestic and international operations at 550 Biltmore. AEW (owner) spent millions of dollars over the past 3 years to upgrade the iconic building, including the lobby, elevators and common areas. This gave us our best chance to renew UBS, which paid off”, stated Holtzman. The financial services firm has been the anchor tenant in the building, since 1999.  The renovations earned the building the Renovated Building of the Year award from the Building Owners and Managers Association (BOMA) in 2013.
UBS conducted an extensive office space search within Coral Gables before deciding to renew at 550 Biltmore.  The market, with a higher vacancy rate than neighboring sub-markets, had numerous office space options for the financial services firm.