Southeast Financial Retaining Law Firms

MIAMI-Southeast Financial Center just inked four new lease renewals, including one expansion. The leases total 12,495 square feet at the 1.225 million-square-foot Downtown Miami office tower.

Known to some as the law and financial hub of Downtown Miami, Southeast Financial Center is home to eight law firms within the 2013 AMLAW 200. Of the 38,360 square feet of new leases to date, Butler & Hosch, P.A. expanded 1,610 square feet, U.S. Bank signed a long-term lease renewal of 1,403 square feet, Gibraltar Private Bank & Trust signed a long-term lease renewal for 7,500 square feet, and Turner & Associates LLP, public accounting and business advising firm, signed a long-term lease renewal for 1,982 square feet.

"We have capitalized on the momentum from last year and continue to experience strong interest and activity in Miami's CBD," says Donald Cartwright, senior vice president with Jones Lang LaSalle. Cartwright along with JLL vice president Nicole Vassilaros are the exclusive leasing agents for Southeast Financial Center.  

JLL reports that professional service firms and banking have accounted for a majority of the lease renewals in Miami's CBD over the past several months, in particular at Southeast Financial Center. Recent quarterly reports indicate that the CBD segment of the market is experiencing incremental pricing increases and steady leasing resulting in a significant amount of transactional activity.

"With the extensive capital improvements ownership infused into the property and the continuation of our plaza activation, we had a very strong finish to the first half of this year and anticipate continued momentum through the end of 2013," Cartwright says. Most recently, the building unveiled a 17,000 square foot complete aesthetic and technological renovation to its east, west and lower lobbies.