Sumitomo Corporation of America (SCOA) has selected Transwestern to serve as the exclusive property management team for Miami Center, the 782,210 square foot Class “A” high-rise office property located at 201 South Biscayne Boulevard in the heart of Miami’s Central Business District. The property was being managed by Ryan Companies US, Inc.
Since Miami Center was purchased by SCOA in October 2008, Transwestern has served as the exclusive leasing advisors with Eric Groffman, Senior Vice President of Transwestern, leading the leasing efforts of the landmark property.
“Miami Center has continued to attract and retain high quality tenants who seek a ‘Class A’ address. Our occupancy continues to beat market averages and the building is home to notable clients such as Citibank, Morgan Stanley Smith Barney, BNP Paribas, and law firm Shook Hardy & Bacon,” said Mr. Groffman. “Born from the strong relationship forged over nearly three years, highlighted by successful leasing and advisory services, Sumitomo has extended its relationship with Transwestern to include property management services and a broader graphic reach.”
Additionally, Transwestern will serve as the exclusive property management team for the rest of SCOA’s national office property portfolio, totaling 1,585,210 square feet. The SCOA portfolio also includes:
- 343,000 square feet of Class “A” office building at 123 Mission Street, San Francisco;
- 300,000 square feet of office building within a ±43 acre waterfront development along the south shore of Tempe Town Lake at Hayden Ferry Lakeside II, Tempe, Arizona; and
- 160,000 square feet of office building at 1750 K Street, Washington, DC.
“Each of the properties within this portfolio, including Miami Center, are iconic towers that represent the pinnacle for global business. We believe Transwestern’s commitment to providing world-class customer service as part of our strategic property management will only further cement these buildings as top business locations in their local markets,” said Walter Byrd, Managing Director of Transwestern’s Florida operations. “Transwestern has strategically grown each of our core service lines over the past year. To do so, we have aligned ourselves with landmark assets and respected ownership; this relationship with SCOA accomplishes both.”
Further indicating strategic growth, Transwestern will be adding 16 new employees to its Miami office to oversee the property management requirements of Miami Center. Additional staff will be added throughout the country to maintain property management stewardship of the portfolio.
With the addition of the SCOA portfolio, Transwestern is responsible for the leasing and management of 15.8
million square feet statewide. Transwestern also manages Douglas Entrance, 110 Tower and 555 Washington.
Established in 1952, SCOA is the largest wholly-owned subsidiary of Sumitomo Corporation, one of the world’s leading traders of goods and services. As an integrated business enterprise, the firm has emerged as a major organizer of multinational projects, an expediter of ideas, an important international investor and financier, and a powerful force for distribution of products and global communications through a network of offices worldwide.
Get the latest industry news and information from CRE-sources delivered right to your email inbox! And we promise…no more than one email each morning.
And we promise…no more than one email each morning.