MIAMI—Southeast Financial Center is a turnaround story of tall proportions. Florida’s tallest office tower just closed on a 22,567-square-foot lease—the entire 25th floor of the 1.2-million-square-foot class A building—to DLA Piper. The debt-free building is now 84% occupied after repositioning itself in the wake of Wachovia moving out in 2011.
DLA Piper signed a new, long-term lease at the building. The law firm initially inked a short-term lease at the building when it entered Miami eight months ago. The new transaction marks the international firm’s commitment to the region.
“DLA Piper leased the entire 23rd floor ‘as is’ for one year commencing in March 2011,” Donald Cartwright, senior vice president with Jones Lang LaSalle, tells GlobeSt.com. “This allowed them to become operational and recruit new attorney's while they evaluated all of their space options in the market. They determined the best option for their office in Miami was Southeast Financial Center and signed a long term lease for the entire 25th floor.”
Cartwright said existing improvements in the 25th floor have been removed and DLA Piper will have a completely new space designed and built out. DLA Piper is one of the world’s largest law firms, with 4,200 lawyers in offices around the world—and the firm is one of several significant new-to-market tenants.
“DLA Piper is the most recent example of the type of international or nationally prominent tenants that have been attracted to Southeast Financial Center from its inception due to the iconic stature of the property and the endorsement of other leading legal, financial and professional firms,” Cartwright said. "They are the fourth law among the top 25 firms in the world to lease space at Southeast Financial Center and one of 11 law firms in the building that belong in the top 250 law firms in the US.”
Cartwright expects DLA Piper’s presence, along with other similar tenants at Southeast Financial Center, to continue to be an influential factor in attracting important tenants to the property. The tower has also seen significant investment, most recently launching a 17,000-square-foot complete renovation to its east, west and lower lobbies.
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