By Timea Papp
Cushman & Wakefield has arranged a roughly 25,000-square-foot lease renewal and restructure for SunTrust Bank at 777 Brickell, an office property totaling 288,485 square feet in Miami’s financial district. The longtime anchor tenant signed on for an additional 10-year term.
Located at 777 Brickell Ave., the property recently underwent an improvement program that included upgrades to the common areas, elevators and garage. The building features on-site management, 24-hour security, a full-service salon, covered parking and A restaurant on the ground floor.
SunTrust Bank has been anchoring 777 Brickell since the asset’s completion in 1978 and continues to hold top-of-building signage. The new lease agreement comprises 22,000 square feet of office space on the ninth floor and 2,810 square feet of ground-floor retail space. The bank will open a new, redesigned branch in the building’s lobby.
The Cushman & Wakefield team represented both the landlord and the tenant. Managing Director Andrew Trench and Vice Chair Brian Gale worked on behalf of building owner Alliance RE Holdings while Managing Director Jason Donald, Executive Director Tony Jones and Senior Director Ryan Levy worked with Thomas Crociata, first vice president at SunTrust Bank.
“We are pleased that ownership understands the benefit of SunTrust maintaining its position within the market and that it was willing to accommodate the new initiatives and branding SunTrust is rolling out to better serve its banking clients,” Donald said in a prepared statement.
Image courtesy of Cushman & Wakefield