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Hedge fund Valley Forge Capital Management is relocating from Philadelphia to a spec suite at CP Group’s One Biscayne Tower, a 38-story tower in Downtown Miami, according to the landlord.
The hedge fund signed the deal for 5,028 square feet in March and plans to move in by the end of the year.
Also in March, small business lender Fundkite signed a lease for 11,452 square feet in the tower at 2 South Biscayne Boulevard. The company, which is relocating from two blocks away at 100 Biscayne Boulevard, also has an office in New York.
The two leases bring the 692,000-square-foot building to 80 percent leased, according to a spokesperson for the landlord.
Cushman & Wakefield’s Brian Gale, Andrew Trench, Ryan Holtzman and Lena Weeks represented the landlord. CBRE’s Shay Pope handled it for Valley Forge and it wasn’t immediately clear who brokered the deal for Fundkite.
Valley Forge will join other new-to-market tenants Taylor English, a law firm that relocated from Atlanta, and consulting firm Applied Value, which is relocating from the Empire State Building in New York. The former signed 8,797 square feet and the latter 3,048 square feet, both in the fourth quarter of 2022.
Chava Gourarie can be reached at cgourarie@commercialobserver.com.
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