MIAMI—Consulates are inking office deals in pairs these days. After the Consulate General of Brazil relocated from Brickell to Coral Gables, the German Consulate General of Miami renewed its lease at New World Tower.
"These lease transactions continue to demonstrate the strength of international business and tourism throughout South Florida, particularly from the Latin American and European markets," says William Holly, president of Pointe Group Advisors, who represented both buildings in the deals. "New World Tower and Miami Green offer premier locations, amenities and accessibility which are essential to operations for both consulates.”
The German Consulate General is occupying 8,921 square feet of office space on a 10-year term. Located in the heart of Downtown Miami, the building rises 30 stories and spans 285,000 square feet at 100 North Biscayne Boulevard.
The Consulate General of Brazil is relocating from its current office space on the 26th floor of 80 Southwest 8th Street in Brickell to the class A, 13-story Miami Green building in Coral Gables. This transaction takes leasing above 50% at the building. Cresa represented the Consulate General of Brazil.
“It takes time to relocate a consulate because of the approvals required from the U.S. State department, Brazil's foreign missions department, and even legislative approval,” Steve Gaunt, an advisor at Cresa, tells GlobeSt.com. “We understood how to navigate this complex process because we worked with the Consulate on its last move. We knew we needed two years of lead time to address all the requirements and find a location that would accommodate growth.”
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