Brazil Consulate Rethinks Office Space

MIAMI—Ocean Drive magazine called is calling it “Miami's Brazilian Boom.” It's no secret to condo developers that Brazilian investors are making an economic impact on Miami—and all of South Florida. Indeed, this demographic surge is helping shape a new commercial real estate boom in the region.

Behind the scenes, the Consulate General of Brazil is getting ever busier. In fact, there's so much activity at the consulate that it's moving into larger office space to accommodate the flood.

Consider the statistics: Brazilians overtook Canadians as the main international tourists in Miami in 2012, according to the Greater Miami Office of Tourism and Conventions. Of the 1.8 million Brazilians who traveled outside their borders in 2012, 75% visited Florida—and 700,000 of them came to Miami.

Cresa South Florida's team of Steve Gaunt and Eric Gaunt represented the consulate on its two-year search for new office space to serve the growing number of Brazilians that need to renew passports and Americans requiring visas for travel to Brazil. The Consulate General of Brazil will relocate from its office space on the 26th floor of 80 Southwest 8th Street location in Brickell to 24,518 square feet at 3150 Miami Green Way in Coral Gables.

“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,” says Steve Gaunt, an advisor at Cresa. “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.”

Pointe Group Advisors President William Holly, who represented Miami Green in the transaction. He tells GlobeSt.com that after spending nearly two years of touring buildings, ultimately, Miami Green's central location, ease of access, and premier amenities provided the ideal setting for the Consulate General of Brazil: "The building's green amenities, ground floor space and rooftop terrace were of particular importance and will enhance the consulate's operations, as well as accommodate its growth.”

Brazil's economic impact on Miami goes beyond condo investments. Brazil remained Miami's top trading partner in 2013 with $16.8 billion in total trade, according to WorldCity. Brazil surpassed Columbia, which ranks second at $9.34 billion. These factors, as well as projected future growth, required the Consulate General of Brazil to entirely rethink its office space.

“The Consulate wanted to move to a ground floor situation because it's easier to service the public. Administrative offices could be located higher floors,” Eric Gaunt says. “Finding the right office space was like assembling a puzzle. After conducting surveys and exploring various opportunities, it all came down to the Miami Green Building.”

The consulate settled on Miami Green is a class A, 13-story, office building in Coral Gables. Location and accessibility were key factors. Miami Green is only 100 yards from the Metro Rail Station, Gables Trolley and Metro Dade Bus Station, US1 and only 15 minutes from Miami International Airport.

“Working with government entities like the Consulate General of Brazil brings unique challenges. You have to understand the decision-making process and what it takes to get approvals signed,” Steve Gaunt says. “There are also challenges in working through the process with a landlord and its representative. In this instance we were fortunate to have knowledgeable parties on the landlord's team that made the transaction run smoothly. The Miami Green Building was the ideal solution and will allow the Consulate General of Brazil to keep up with the rapid growth it's facing in the years to come.”