MIAMI-In a Miami CBD that’s posting a market average occupancy rate of 77.1%, Miami Tower is beating the odds by rising above 90%. Since taking over the leasing assignment on the Downtown Miami class A office tower a year ago, Transwestern has inked 40,159 square feet of lease renewals and expansions—and more than 120,000 square feet in total—to large tenants.

Located at 100 SE 2nd St., the 618,990-square-foot, 47-story office building is one of the world’s most recognized, thanks to a changing palette of exterior lighting schemes, which alter to seasonal, city, sports and private events. But lighting alone isn’t enough to get lease renewals in a competitive Downtown Miami office market.

“Since taking over the asset in January 2011, we have creatively developed a multi-pronged leasing strategy which enables us to sign new tenants while still creating opportunities for our existing tenants to renew and expand within Miami Tower,” Gordon Messinger, vice president with Transwestern, tells GlobeSt.com. “The success of this strategy is reflected in the sizable lease transactions over the past 12 months for existing tenants in growth mode at Miami Tower.”

Transwestern has secured expansions with more than 80% of the tenants up for renewals over the past year. With the stabilization of the market, Messinger believes the first half of 2012 will continue strong as national and regional businesses look to secure office space that accommodates short and long-term growth plans.

“The biggest challenges in lease renewals today are being able to accommodate tenant growth and create efficiencies in the space,” Messinger says. “Through a combination of the iconic building’s uniquely tiered design, which accommodates a range of efficient floorplates and new ownership’s commitment to setting the benchmark for class A office space, we are able to minimize the typical challenges that would face a lease renewal in our competitive market.”

Most recently, Boies, Schiller & Flexner LLP signed a long-term lease renewal and expansion of 6,000 square feet for a total of 23,277 square feet. Boyd Richards Parker & Colonnelli, PL signed a long-term lease renewal for 9,628 square feet. And DRRT signed a long-term expansion of 3,269 square feet for a total of 7,664 square feet.

“We are seeing a healthy increase in both new and existing CBD prospects across all business sectors over this time last year,” Messinger says. “As the only class A building in the CBD with top building signage available, Miami Tower would be extremely appealing to a prominent bank or well established brand. Today, the building has a comprehensive mix of well balanced national and local professional service firms.”