Located at 1441 Brickell Avenue in Miami, the class A trophy asset offers 250,000 square feet of office space.

MIAMI—Millennium Partners MDA Associates is tapping into strong demand for Brickell office space. And the developer is counting on Avison Young to help drive that demand in the office component of Four Seasons Tower, which surpassed the Southeast Financial center as the tallest building in Florida.

Avison principal Wayne Schuchts, principal and Miami managing director Donna Abood, and associate Teri Jarp are the exclusive leasing agents for the tower's office component. The asset is 90% occupied.

“Based on average rent rates, Brickell is standing in the strongest submarket position with average rents of $39.71 per square foot across all classifications,” Abood tells GlobeSt.com. “These rents are getting stronger and stronger every day. There is less than 200,000 square feet of new office space under construction and slated to come on line in 2016. With so little new inventory and the strong, consistent demand, we do not anticipate any slowdown in these continued increasing of rent and reductions in concessions.”

Located at 1441 Brickell Avenue in Miami, the class A trophy asset offers 250,000 square feet of office space. The skyscraper stands 70 stories high and spans 1.5 million square feet, serves as the anchor for the south end of the Brickell Financial District.

“Brickell has one of the lowest vacancy rates in Miami-Dade County at 11.9%, with renewals dominating leasing activity as demand continues to rise for quality office space boasting dynamic views and modern amenities,” says Schuchts. Avison is setting up a satellite office at Four Seasons Tower.

Want a long-term view of Miami commercial real estate? Check out my recent column.

Instant Insights /

Millennium Strategizes on Brickell Office Tower

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