MIAMI, FL– With a trophy location as its drawing card, Gaedeke Group LLC's Museum Tower (top left photo) has been selected by the Luks, Santaniello, Petrillo & Jones law firm and Tetra Tech Inc. for expansion plays in the Miami marketplace.The well-known law firm has leased 2,758 sf and the publicly traded engineering firm has taken 1,175 sf, both signing leases for the 16th floor of the 29-story, class A high rise at 150 W. Flagler St. in Miami's legal district.
Luks, Santaniello, Petrillo & Jones is moving in now; Tetra Tech will have completed its relocation by month's end.
"Both wanted to get in quickly because they had needs for their operations," says Kirk Fetter (middle right photo), vice president of leasing for the Dallas-based landlord.
Tom Capocefalo, corporate managing director of Studley, represented the law firm. Chris Dekker, senior associate of CB Richard Ellis, represented the Pasadena, Calif.-based Tetra Tech.
"This is a permanent expansion in the Miami market for Luks, Santaniello," Capocefalo says, adding the law firm is planning to add six to eight attorneys in the coming months plus staff. "Museum Tower offered the greatest economic value for this tenant's requirements," he notes.
Capocefalo says the law firm looked at several buildings during the course of its search, but the class A caliber of Museum Tower and its proximity to the Miami-Dade Courthouse (middle left photo) were the dealmakers as was the landlord's business acumen.
"Gaedeke does a brilliant job of facilitating and making tenants feel like they can get the deal done," he stresses.
Location and landlord also were the convincing factors for Tetra Tech, which is expanding with a move from 8550 NW 33rd St. "I looked at several other buildings in the downtown and Brickell.
It was really my top choice for several reasons," says Ken Caban, Southeast Florida regional manager for Tetra Tech. "It's a very central location for lots of our existing and future clients. The ownership was very accommodating with our requirements."
The back-to-back signings nudge the 234,104-sf Museum Tower's occupancy to 86% and reduces the 16th floor's availability to 3,680 sf. Gaedeke's largest block of open space in the high rise is the 18th floor, featuring 14,000 sf with a 360-degree panoramic view of downtown Miami and Key Biscayne Bay.
Museum Tower's proximity to the courthouse is reflected in its tenant base, which is heavily weighted by law firms. Also close by is the Metro Rail station as well as easy access to Interstate 95.
Negotiations for both leases lasted just a few months. "There is more activity in Miami then there's been in a while," Fetter says. "It's really picking up."
Gaedeke Group, founded in 1995, is a full-service real estate firm that provides investment, acquisition, management, leasing construction management and portfolio management services.
Headquartered in Dallas, Gaedeke's current portfolio encompasses three million square feet of class A office properties in Arizona, Florida, Tennessee, Texas, Washington, D.C. and Germany.
Contact: Kirk Fetter, Gaedeke Group, 561-515-7407, http://www.gaedeke.com/ or prcourier@att.net
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