AON Group Renews Brickell Lease; 2525 Ponce Signs Quest Workspaces
- Aug 19, 2011
Insurance giant AON Group has renewed its lease at Brickell Bay Office Tower in what marks the largest office lease transaction completed this year in Miami’s Brickell office market. Currently 91 percent occupied, the Class A tower at 1001 Brickell Bay Drive has served as a home for AON for the past 13 years.
This transaction follows a string of new leases and renewals announced by the building’s management team, totaling more than 135,000 square feet in the past year—keeping the building’s total office occupancy at 91 percent, well above the Downtown Miami/Brickell market average of 78 percent. AON Group maintains its position as Brickell Bay Office Tower’s anchor tenant with 38,000 square feet leased, while other new tenants include the British Consulate, Vector Global Wealth Management Group, Right Space Management Inc.,Trans American Equity Partners LP, 1st United Bank and many more.
The building’s ownership was represented in the transaction by Christian Driussi, vice president for Brickell Bay Office Tower, while AON Group was represented by Chris Coots, senior vice president with CB Richard Ellis.
Business center operator Quest Workspaces will soon add a new location to its office programs, as it has also signed a long-term lease for 22,702 square feet at 2525 Ponce de Leon Blvd. Quest currently operates from two locations—the Espirito Santo Plaza on Brickell Ave. and the 1200 Building in Boca Raton—and offers office programs designed to support companies of all sizes and stages by offering space with no start-up capital required, virtual office plans, and conference rooms and lounges for rental. Quest Workspaces was represented by Lance A. Benson, vice president of the Tenant Advisory Group at Grubb & Ellis.