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MIAMI-Royal Bank of Canada has signed a long-term lease valued at $12.3 million, or approximately $33 per sf, for 36,900 sf at the One Brickell Sq. here. The 10-year lease extension and expansion doubles the Toronto-based financial institution’s presence in the building, at 801 Brickell Ave., and pushes the bank into occupancy on the 20th and 21st floors.

The bank, which previously occupied 18,450 sf in the building, doubled its space because it acquired the private banking business from Barclays, and “with those persons added to their staff, they needed the additional space,” Grubb & Ellis senior VP Richard O. Cooper tells GlobeSt.com. Cooper represented the bank, while AFA Real Estate of Miami spoke for the owner. One Brickell Sq. is now 84% occupied.

Royal Bank was also looking at the Barclays Bank sublease space at 1111 Brickell Ave. A 50,000-sf space there has since been leased to Mellon Bank, at an estimated lease value of $11.8 million. The 522,843-sf building is being rechristened as the Mellon Bank Building.

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