Citadel Leases Six Floors At 830 Brickell, Becomes Building’s Biggest Tenant

Citadel is now the biggest tenant at the under-construction 830 Brickell office tower after it leased 90,000 square feet there, according to Bloomberg.

In total, Citadel will occupy six full floors at 830 Brickell.

OKO Group and Cain International, who are jointly developing 830 Brickell, released the following statement:

“Citadel’s lease for a new Miami office at 830 Brickell cements our tower and the Brickell Financial District as the destination of choice for finance, technology, and professional services firms relocating and expanding to Miami. Citadel’s arrival at 830 Brickell reaffirms our long-held belief and strategic vision that best-in-class office buildings – and the companies and talent they attract – will continue to play an important role in the future of global hubs like Miami. We look forward to welcoming Citadel as the newest addition to the 830 Brickell tenant roster of world-leading businesses.”

Leasing rates at 830 Brickell are being quoted at $125-$150 per square foot – far higher than the average office building in New York City.

Citadel has also leased a floor at the Southeast Financial Center, in a sublease from the Knight Foundation, which relocated to Coconut Grove, the report said.

The company has big plans for Miami.

An international design competition is now underway for Citadel’s new headquarters in Brickell, on waterfront property that was purchased for $363 million in April.

Citadel was also seen as possibly being behind the $286.5 million purchase of a a 28-story office tower at 1221 Brickell Avenue in June.

 

 

43 Comments
most voted
newest oldest
Inline Feedbacks
View all comments
Anonymous
16 days ago

Now we know why wework was swiftly shown the door…

Optimist
15 days ago

Wework was just a placeholder

Qtip
16 days ago

Where are all the “but what does this do for Miami” people that used to act like it wasn’t a big deal when all these companies were moving down? Before they say this does nothing for the average person Ken Griffin has already donated 10 million to the Miami underline.

Anonymous
16 days ago

Yeah, maybe they can use some of that money to buy some trees. Right now it’s a LONG concrete jungle.

Anonymous
16 days ago

The underline plans plenty of trees you should look at volunteering they’re accepting every Saturday.

Anonymous
16 days ago

*plants

Qtip
16 days ago

You realize Miami is one of the greenest (by plant life / trees) cities in the US which actually has a pretty good balance with nature when compared to most US cities. And the underline isn’t even finished yet, they’re still planting plenty.

anony
16 days ago

what data do you have to back this up? Miami has the least (or close to least) amount of park space of any major city in US.

Lenny
15 days ago

Provided you don’t count Biscayne Bay National Park…..maybe.

Optimist
15 days ago

Because everyone lives on the bay?

Lenny
15 days ago

“Well….if we don’t have wider sidewalks, bike lanes, mobile soy latte dispensing machines, and a MetroMover to Panther Coffee, NO firms will relocate to Miami”.

This 900th example of another relo is just a fluke.

Anonymous
16 days ago

What happened to the Innovation District? Is it still happening? And where?

Vincent
16 days ago

You mean the Magic City Innovation District? Yes, it’s in Little Haiti and to my knowledge it is indeed happening.

Unknown
15 days ago

Magic City and Innovation District is two separate projects.

Anonymous
15 days ago

He means the Park West one adjacent to MWC, and I think you mean the one in Lemon City.

Anonymous
15 days ago

Nope. I mean the Innovation District in Park West by the Miami Worldcenter. So what happened to that?🤔

Anonymous
16 days ago

Amazing. Miami is already reaping the benefits of the citadel relocation

Anonymous
16 days ago

Can’t wait to see their new tower!

Pickles
16 days ago

That glass is just eye candy. Beautiful.

Miami
15 days ago

I’m happy about thIs but I would have to say we are so far behind other cities as far as office space! Yes a lot of these mix use towers have office space but not up to the standards a fortune 500 company requires. Just so happens we have an office building under construction to accommodate Citadel, if not it could have potentially persuaded them not to come. Developers we need more office space!

Lenny
15 days ago

Detroit is WAY ahead of Miami in terms of vacant space.

Mike
16 days ago

Anyone else find this just a little strange why they ended up here? Realistically at best occupancy is 12/16 months away. They can get their own building out of the ground in 16 months. And then let’s say 3.5 year build. Why would they not take a 5/7 year lease somewhere nice and available now? Also why would 830 want them when they know in 5/7 year they have a hole to fill. Could have secured a longer initial lease from another opportunity.

Anonymous
16 days ago

I agree. Down the line when they move into their own building, that’s a lot of sqft that 830 has to backfill, and who knows what the office market will be like then. Time will tell, I guess.

Anonymous
16 days ago

You don’t say no to citadel in this environment

Azure
16 days ago

It’s only 90K square feet. They can keep their space at 830 and have their own tower. Or sublet. There are options.

Anonymous
16 days ago

They can not get their building out of the ground in 16 months. After the international design competition, it will probably take years for the building to get off the ground. And a 3.5 year build? LOL. Closer to 7 probably but it will depend on the architecture.

Optimist
15 days ago

This is unduly pessimistic, and can be done faster. He’s made his decision to move, and within a matter of months engaged an office developer, leased 150k sf and invested $650 mm in realty. All the doors of the city will be open to him. He’s shown his commitment and wasting no time.

Melo, a true giga chad
16 days ago

because its gonna take time to close down shop in Chicago

Optimist
15 days ago

Just trading floors, unplug them and move them.

anonymous
16 days ago

its going to take closer to 10 years for them to get that building done. They are just in the design phase and that is just the beginning.

Optimist
15 days ago

830 is going up pretty darn fast.

Scott
16 days ago

Hey, happy to interject here. Best case occupancy for 830 brickell is Summer 2023. Their building on Brickell Bay Dr won’t be ready until ~2028. They paid a relatively high rent for these lower floors at 830 Brickell, and built in termination options every few years, which they’ll exercise when the new building is complete. If they didn’t take these 6 floors, they wouldve been spread out all around town bc nowhere else has this inventory available…. Hope this helps :*

Lenny
15 days ago

I’m not 100% sure, but id guess that the WeWork build out was one of the first permitted and underway. It will probably be ready shortly after the TCO.

Further, it’s the nicest building in Miami, why wouldn’t they?

AbyNormal
15 days ago

Sure, they could…but that’s not the case here. No Re-Use
This building is going to be a shit show for tenant build-out. You’ll have all these high profile tenants trying to build at the same time. Hope they award to 2-3 top GCs, and keep it simple.

Miami
15 days ago

I have faith that their planned tower will rival any tower in any city in America!

Optimist
15 days ago

Think world class

Melo, a true giga chad
16 days ago

Must be nice to be a Citadel employee..

Javier
15 days ago

What is citadel?

anonymous
16 days ago

and some people thought they were going to the proposed office building on terminal island 😂🤣

Lenny
15 days ago

I thought for sure they would occupy 1221 Brickell Ave.
What a pleasant surprise.

Lenny
15 days ago

Maybe Citadel will sign WeWork for 1221 Brickell.

Optimist
15 days ago

1221 can be transitional space, and then redeveloped

AbyNormal
15 days ago

No terminal Island or One Brickell City Center…
All of the announced spaces will allow Citadel the needed space to transition Chicago and New York + new employees into Miami Market, while their new Signature Building (1201 Brickell Bay Drive) is competed for, designed, permitted and built (could be 5-7 yrs depending on design/GC/City’s Expediting)