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A subsidiary of BNP Paribas leased an office at 801 Brickell in Miami
A subsidiary of European bank BNP Paribas will open an office in Brickell, Miami, signaling the continued migration of financial firms to the neighborhood.
BNP Paribas Securities Corporation signed a seven-and-a-half-year lease for 7,700 square feet at 801 Brickell Avenue, according to a BNP Paribas press release. The office will open in the fourth quarter, with nearly 50 employees across credit, equity and macro services.
BNP Paribas, a listed bank based in Paris, operates in 65 countries. In the US, it signed 20-year leases on three properties – two in the greater New York area and one in the Philadelphia area – in 2020, according to the announcement. It also has offices in Boston, Chicago, Dallas, Denver, San Francisco and Washington, DC
This will be BNP Paribas Securities’ first office in Miami, although BNP Paribas had a wealth management office in the city about a decade ago.
Nuveen Real Estate, the investment arm of TIAA, owns the 28-story 801 Brickell and has its southeast headquarters in the tower.
BNP Paribas Securities is the latest to plan a presence in Brickell, which has become a hotbed for financial firm relocations and expansions. More specifically, billionaire Ken Griffin will move the headquarters of Citadel and Citadel Securities to Brickell.
Israeli flexible office provider Mindspace will open in Aby Rosen’s 100 Biscayne tower in downtown Miami.
Tel Aviv-based Mindspace signed a 10-year lease for 31,200 square feet on three floors at 100 Biscayne Ave., according to a news release from the tower’s owner, Rosen’s RFR Holding. The flex office company will open in the fall.
Eric Grofman and Cameron Tallon of CBRE represented the landlord. Aaron Ellison and Jeff Gordon of JLL represented the tenant.
Founded by Dan Zakai and Yotam Alroy in 2014, Mindspace has more than 40 flexible office spaces in 20 cities in seven countries, the release said.
The company’s 100 Biscayne office, which will have more than 450 workstations, is Mindspace’s sixth in the US and its second in Miami. It is set to open this year in 30,000 square feet across the entire sixth floor at R&B Realty Group’s The Gateway in Wynwood.
Rosen’s New York-based RFR bought the 30-story, 310,000-square-foot 100 Biscayne building for about $90 million early last year. The deal came after intense litigation between 100 Biscayne’s previous owners, East End Capital, and its Australian investment partners, who allege financial problems at the property. One of the lawsuits claimed a lender was on the brink of foreclosure, but a last-minute forbearance agreement forced the sale of the building.
RFR said it has secured 123,000 square feet of new leases and renewals since buying 100 Biscayne. Existing tenants include LVMH, Bulgari, Hublot, Italian eyewear maker Luxottica and architecture firm Zyscovich.
Stephen Bittel’s Terranova Corporation has scored three restaurant tenants at its Miami-Dade County properties.
Blaze Pizza, a chain that counts LeBron James as one of its early investors, has taken 2,200 square feet with a 10-year lease in the Palm Plaza shopping center at 16867 Northwest 67th Avenue in unincorporated Northwest Miami-Dade, Terranova reports.
Terranova, one of the largest landlords on Miami Beach’s Lincoln Road, also secured two tenants at its properties along the shopping and dining promenade.
Indian street-style restaurant Cho:Tu signed a two-year lease for 191 square feet at 723 North Lincoln Lane. Gorilla Pizza signed a three-year lease beginning in November for 112 square feet at Lincoln Eatery, 723 North Lincoln Lane.
Miami Beach-based Terranova has seen a flurry of leasing activity in recent months, including at its properties in Coral Gables and Palm Beach County. Last year, Cuban cafe and fast-casual restaurant Cortadito Coffee House took over 2,200 square feet at 200 Miracle Mile in Coral Gables. In Terranova’s Shadowwood Square near Boca Raton, baby and children’s clothing retailer Carter’s Retail signed took 4,000 square feet at 9831 Glades Road and The Great Greek Mediterranean Grill took 2,700 square feet at 9961 and 9963 Glades Road.
Heating, ventilating and air conditioning contractor Hill York will open an industrial space in the I-595 business center in Dania Beach.
Fort Lauderdale-based Hill York signed a 10-year lease for 28,000 square feet at 3400 Southwest 30th Avenue within the business center. The company installs, maintains and repairs commercial HVAC systems throughout Florida.
Ronald Schagrin of Colliers represented the tenant and Chris Metzger of Cushman & Wakefield represented the landlord.
A Sunny Isles Beach-based entity headed by Saul Gilinski owns the warehouse, according to real estate and state corporate records.
Armando Codina’s Codina Partners has scored three restaurant tenants in the Downtown Doral development.
DC Pie Co. took about 2,500 square feet at 8455 Northwest 53rd Street, according to a Downtown Doral news release. The restaurant was started by Dominic Cavagnuolo, who co-founded Miami Beach’s Lucali Pizza, known for its modern twist on Brooklyn-style brick-and-mortar pizza.
Houston-based Sweet Paris Crêperie & Café has taken 2,400 square feet at 5335 Northwest 87th Avenue. and Miami staple Sports Grill, known for its “Special Grilled Wings,” took 3,800 square feet at 5241 Northwest 87th Avenue, the announcement said.
The three restaurants opened.
Coral Gables-based Codina Partners built the 250-acre Downtown Doral mixed-use development as the master developer, though over the years it has sold portions of the project’s development sites to other developers. Greystar, for the first time, completed an eight-story, 385-unit apartment building at 8425 Northwest 41st Street in 2020 after paying $19.3 million for the 4-acre site in 2019. Last year, Greystar sold the completed apartment project to GID for $149.8 million.
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