Big Law Firm Signs Lease at Miami's Hottest Tower

If you're a seller looking to list your home in Miami, you'll be happy to know that one of the biggest and most prestigious law firms in the country has just signed a lease at the city's hottest new tower. The firm is reportedly moving its entire operations from New York City to Miami, and it's just one more sign that Miami is on the rise. If you're curious about what this move could mean for Miami real estate, keep reading – we've got all the details.

According to the building's developers, Baker McKenzie is relocating its Miami office to a 55-story tower that is currently being built and is luring tech and financial firms to the city.

The company intends to lease 18,000 square feet of office space at 830 Brickell in the city's financial sector, according to a statement from the building's developers, OKO Group and Cain International. Law firms Winston & Strawn and Sidley Austin have both signed contracts there, and Baker McKenzie will join them. Sidley Austin will occupy 60,000 square feet of the facility.

According to OKO and Cain, Winston and Strawn, whose relocation to the structure was previously reported, has now secured a lease at the skyscraper for 35,000 square feet.

According to the developers, the building will be the first Class A+ freestanding office tower to be constructed in the region in more than ten years when it is completed by the end of the year. When the building is finished, it is anticipated that all 640,000 square feet of space will be leased.

As businesses relocate to the city because of its cheap taxes and welcoming environment for employees, hedge funds, private equity firms, and Big Law are among those fighting for office space. Attorneys from Baker McKenzie will join the building's current tenants, which also include CI Financial Corp., Microsoft Corp., Thoma Bravo, and Ken Griffin's Citadel.

As its lease at its current Miami location was coming to an end, the company had been keeping an eye on 830 Brickell for more than a year, according to Scott Brandman, managing partner of Baker McKenzie Miami and New York.

Less than a half mile from the planned skyscraper, the company is now located in the Sabadell Financial Center at 1111 Brickell Avenue.

According to Brandman, "We were drawn to the most cutting-edge facility with the best amenities so that we could provide our workers with the best of everything."

The lobby of 830 Brickell's development boasts a white marble floor and wall panels made of black slats. "Uninterrupted glass, lighted day and night by Miami Beach's warm bay hues and nighttime luminosity," they say on the building's website.

As a result of digitized law libraries and cost-cutting initiatives, some businesses have reduced their real estate footprints over the past ten years. Following the pandemic, which made remote work popular, a number of businesses most recently adopted desk "hoteling" and negotiated shorter leases.

We could have improved the efficiency of our area by rebuilding it, Brandman stated. Although Baker McKenzie is thinking about desk hoteling and other space configurations, he said the new facility will provide the flexibility the company needs around issues like desk size.

Miami is growing in stature as a leading city for business. The relocation of Baker McKenzie and other firms to the city is evidence of this. If you're looking for an area with plenty of opportunity, look no further than Miami. As always, feel free to contact me if you have any questions about South Florida or its many wonderful neighborhoods.

Original Post: CLICK