MIAMI—Southeast Financial Center is on a law firm leasing roll. After signing international law firm Bryan Cave to a 10,000-square-foot lease, JLL inked a deal with national law firm Fox Rothschild.
Fox signed a new lease for 6,101 square feet of office space after spending its first year as a new-to-market law firm in Coral Gables. Fox will take down office space on the 35th floor of the 1.225 million-square-foot office tower in Downtown Miami.
According to Donald Cartwright, senior vice president at JLL, the exclusive leasing agent for the tower, Southeast Financial Center has inked over 600,000 square feet of leases with professional service firms over the past several years. The office building is home to 26 law firms, 14 of which are currently listed on the 2013 National Law Journal list of top 350 law firms.
“Our newest transaction with Fox Rothschild transaction marks the fifth national law firm to sign a lease at Southeast Financial Center in the past six months, underscoring ownership's long-term commitment to excellence of the asset is paying dividends,” says Cartwright. He works with JLL vice president Nicole Vassilaros to lease Southeast Financial Center.
With nearly 600 attorneys practicing in 19 offices throughout the United States, Fox represents corporations in over 50 countries. According to The National Law Journal, the firm has been climbing the ranks of the nation's 250 largest firms for many years. Says Vassilaros, “Law firms are an integral part of Miami's real estate activity and economic improvement as evidenced by the uptick in leasing transactions—both new leases and renewals—shown in recent market reports.”
This Fox deal coincides with an $8.15 million investment to modernize, drive efficiencies and otherwise enhance the tenant experience. Since taking 100% ownership of the building in late 2008, institutional investors advised by J.P. Morgan Asset Management - Global Real Assets have invested more than $20.5 million on capital improvements at Southeast Financial Center.
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