After nearly tripling its presence in Miami’s financial district in March, tech company Kaseya has signed a 42,872-square-foot lease at 800 Brickell, an office building totaling 208,325 square feet in the same submarket.
Colliers South Florida worked on behalf of the landlord, Gatsby Florida, while Cushman & Wakefield assisted the tenant.
Kaseya, a software solutions provider for managed service providers and small to medium-sized businesses, will occupy the top three floors of the Class A office building. The tech company’s expansion of its North American headquarters will bring occupancy at the 15-story tower to 97 percent.
Based on Colliers data, in the first quarter of 2022, the vacancy rate for Class A office properties in the Brickell district was 9.6 percent, while the overall vacancy across all property types reached 10.2 percent, 70 basis points below the average for the Miami metro.
In March, Colliers represented Mastercard International in its lease renewal at 801 Brickell, a 415,000-square-foot office tower just across the street from the Gatsby Florida-owned building. The financial services corporation will continue to occupy 53,700 square feet of space within the 28-story building.
A LEED Silver-certified tower in Brickell
Located at 800 Brickell Ave., the LEED Silver-certified tower features 13,889-square-foot floorplates and 30,773 square feet of retail space, CommercialEdge data shows. Completed in 1981, the high-rise also provides on-site parking, with a ratio of 2.6 spaces per 1,000 square feet.
After acquiring the property in 2019, Gatsby Florida repositioned the multi-tenant building through a $3 million capital improvements plan. Upgrades included the addition of a lobby, tenant spaces, along with a new retail segment along Brickell Avenue. Currently, renovation work of the building’s exterior and common areas is also nearing completion.
The Consulate General of Chile, Bradford Portraits and The Brickell Branch of PNC Bank are among the property’s tenants, according to CommercialEdge.
The Colliers team representing Gatsby Florida was led by Executive Managing Director Stephen Rutchik, Managing Director Tom Farmer and Director Tyler de la Pena. Cushman & Wakefield’s Vice Chairman Tony Jones represented Kaseya.