Microsoft has announced it will open a new, 50,000-square-foot office in downtown Miami. The tech giant has inked a lease at 830 Brickell, a forthcoming Class A office building in the city’s financial district.
A partnership of OKO Group and Cain International is developing the 640,000-square-foot 830 Brickell, which was approved by the city in 2019. Once completed, the project will be the first major office building to rise in the city’s downtown in more than 10 years. The 55-story project was financed with a $300 million construction loan obtained in 2019 and is expected to be completed in 2022.
The new office space will be the home for Microsoft’s Latin America regional team, according to a statement from Microsoft’s Mariana Castro. Earlier this year, Microsoft inked a deal for 150,000 square feet at Tishman Speyer’s Commonwealth Tower in Arlington, Va.
The Seattle-based firm’s announcement comes more than four months after another major corporation, the private equity firm Thoma Bravo, announced it was leasing 36,500 square feet in the same high-rise. Miami has been been drawing major tenants over the last several months, including ride-share giant Uber, and New York City-based hedge fund D1 Capital Partners, which signed a 10-year lease to relocate its headquarters to a building in Coconut Grove in June.
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Designed by architecture firm Adrian Smith + Gordon Gill, construction kicked off at the building in 2019 and will feature interiors by Iosa Ghini Associati, an Italian architecture and design company. Located at the corner of Brickell Plaza and SE 9th St., blocks away from Biscayne Bay, the property will offer tenants amenities like a health and wellness center, a fine dining restaurant, a rooftop lounge, private conference facility and a 24-hour concierge service.
A Cushman & Wakefield team of Brian Gale, Ryan Holtzman and Andrew Trench represented landlords OKO Group and Cain International in the lease deal, while Alexander Brown of Colliers International represented Microsoft.
Fueled in part by office demand from tech and finance tenants entering the South Florida market, Miami’s office development pipeline has been steadily expanding since the beginning of the year and is on the right track for recovery. According to CommercialEdge data, an average of 200,000 square feet of office space is added to the market every month.