{"id":1004604118,"date":"2022-09-26T02:53:09","date_gmt":"2022-09-26T10:53:09","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004604118"},"modified":"2022-12-08T21:37:44","modified_gmt":"2022-12-09T05:37:44","slug":"cp-group-inks-downtown-miami-leases","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cp-group-inks-downtown-miami-leases\/","title":{"rendered":"CP Group Inks Downtown Miami Leases"},"content":{"rendered":"
\"One<\/a>

Aerial view of One Biscayne Tower. Image courtesy of CP Group<\/p><\/div>\n

CP Group<\/strong> is steadily landing more tenants for its 38-story office tower in downtown Miami. The firm secured two leases totaling 46,000 square feet at One Biscayne Tower.<\/p>\n

The transactions include a new 26,000-square foot lease for shared workspace provider Quest Workspaces and a renewal of transportation and shipping company CMA CGM Group<\/strong>\u2019s 20,000-square-foot lease. Newmark<\/strong>\u2019s Lance Benson represented Quest Workspaces, while Jeremy Hakala and Clay Sidner represented CMA CGM Group.<\/p>\n

The Class A office tower currently has floorplates ranging from 11,500 to 52,000 square feet open for leasing. One Biscayne Tower\u2019s amenities include a fitness center, a parking garage, electric vehicle charging stations and on-site retail. The building also earned its LEED Gold and Wired certifications.<\/p>\n

\n

READ ALSO<\/strong>: How Inflation Affects Corporate Real Estate Decisions<\/a><\/p>\n

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CP Group is still working on its multimillion-dollar capital renovation program that will see improvements to the building\u2019s exterior, upgrades to the existing on-site cafe, lobby, fitness center and tenant floors. The firm is also planning to add a conference center to One Biscayne Tower.<\/p>\n

Bullish on downtown Miami\u2019s office sector<\/h2>\n

CP Group acquired One Biscayne Tower<\/a> more than a year ago in June 2021 along with funds managed by Rialto Capital Management<\/strong> and Sabal Capital Partners<\/strong>. The partners acquired the Miami office tower for $225 million. The property was 65 percent leased at the time.<\/p>\n

Since then, the owners also leased two full floors totaling 51,000 square feet to Royal Caribbean<\/strong> at the end of 2021. Along with Quest Workspaces\u2019 new lease, One Biscayne Tower is now 77 percent occupied, with other tenants including Suffolk Construction, Stantec Architecture and Nelson Mullins.<\/p>\n

John Osborne, senior vice president at CP Group, said in prepared remarks that the firm recognized the opportunity to land top-tier tenants in downtown Miami with high quality amenities and a strong location. Osborne added in his prepared statement that CP Group is expecting to see continued interest in One Biscayne Tower and all of the firm\u2019s other downtown Miami assets.<\/p>\n

Besides One Biscayne Tower, CP Group owns several other office properties in downtown Miami. The firm acquired the 636,000-square-foot Miami Tower<\/a> along with DRA Advisors<\/strong> for $163.5 million in July. CP Group’s portfolio also includes the 810,000-square-foot Citigroup Center, the more than 1 million-square-foot The Landing at MIA and the 440,000-square-foot SunTrust International Center, all in downtown Miami.<\/p>\n","protected":false},"excerpt":{"rendered":"

Quest Workspaces has taken up new space at One Biscayne Tower, while CMA CGM Group renewed its previous commitment.<\/p>\n","protected":false},"author":883,"featured_media":1004604150,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,22251,1492,21742,21747],"tags":[51165,50999,33028,40496,35459,36485],"class_list":["post-1004604118","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-in-focus","category-miami","category-latest","category-office","tag-cp-group","tag-newmark","tag-rialto-capital-management","tag-sabal-capital-partners","tag-stantec","tag-suffolk-construction"],"acf":[],"yoast_head":"\nCP Group Inks Downtown Miami Leases - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"CP Group has signed a new office lease with Quest Workspaces and a renewal with CMA CGM Group at One Biscayne Tower in Miami.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/cp-group-inks-downtown-miami-leases\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CP Group Inks Downtown Miami Leases\" \/>\n<meta property=\"og:description\" content=\"CP Group has signed a new office lease with Quest Workspaces and a renewal with CMA CGM Group at One Biscayne Tower in Miami.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cp-group-inks-downtown-miami-leases\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-26T10:53:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T05:37:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/One-Biscayne-Tower.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"817\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jackson Chen\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cp-group-inks-downtown-miami-leases\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/cp-group-inks-downtown-miami-leases\/\",\"name\":\"CP Group Inks Downtown Miami Leases - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cp-group-inks-downtown-miami-leases\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cp-group-inks-downtown-miami-leases\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/One-Biscayne-Tower.jpg\",\"datePublished\":\"2022-09-26T10:53:09+00:00\",\"dateModified\":\"2022-12-09T05:37:44+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/8d4607aca26f3427c49fe54ddc82ddf1\"},\"description\":\"CP Group has signed a new office lease with Quest Workspaces and a renewal with CMA CGM Group at One Biscayne Tower in Miami.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cp-group-inks-downtown-miami-leases\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/cp-group-inks-downtown-miami-leases\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cp-group-inks-downtown-miami-leases\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/One-Biscayne-Tower.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/One-Biscayne-Tower.jpg\",\"width\":817,\"height\":600,\"caption\":\"One Biscayne Tower. 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