MIAMI-The John S. and James L. Knight Foundation renewed its nearly 23,000 square-foot lease at the 1.2 million-square-foot Wachovia Financial Center in downtown, the largest Class A office building in South Florida.

The Knight Foundation renewal comes at a time when Wachovia Financial is facing competition from two new buildings in downtown and Brickell–the 750,000-square-foot Wells Fargo Center across the street, which just lured away major tenant Deloitte, which moved into 50,000 square feet at the building, and the nearly 585,000-square-foot 1450 Brickell building less than a mile to the south. One other major tenant at Wachovia Financial, the law firm Bilzin Sumberg, will be moving out in the next six months.

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