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Holland & Knight is staying put in Miami, having renewed its lease at its longtime home at 701 Brickell Avenue, the landlord’s brokers announced.
The law firm, which first inked an agreement at the 32-story building in 1992, will keep its current offices, which span 121,032 square feet across six floors.
Cushman & Wakefield (CWK)’s Brian Gale and Edward Quinon represented the owner, Nuveen Real Estate. Todd Lippman and Shay Pope of CBRE (CBRE), who represented the tenant, declined to comment.
The renewal comes as the Brickell office market remains tight. The district commands the lowest vacancy rate in the city, hovering just over 10 percent, while boasting some of the highest asking rents, averaging just south of $80 per square foot at the close of first quarter, data from JLL shows.
Other recent renewals at 701 Brickell have included Aon, EFG Capital and Blackrock, which together occupy 42,371 square feet, though The Greater Miami Convention & Visitors Bureau is moving out. New-to-market financial giants Point72 Asset Management and Apollo Global Management recently finalized deals at the 685,835-square-foot building in 2021.
Law firms, courting those new tech and finance transplants, have also swarmed the district. Sidley Austin and Kirkland & Ellis both signed leases last year at 830 Brickell totaling 175,000 square feet. But the latter is now trying to sublease two floors, according to The Real Deal.
Julia Echikson can be reached at jechikson@commercialobserver.com.
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