An office building slated for demolition to make way for One Brickell City Centre is being vacated by Eastern National Bank, which formerly owned the building.
The bank signed a lease to move their headquarters to Dadeland from Brickell Avenue, according to a press release (via TRD).
They have been operating on a lease from Swire Properties. The bank sold their 197,611-square-foot Brickell headquarters to Swire in 2011 for just $13.1 million in 2011. The property, which includes 50,172-square-feet of land, is now worth multiples of that price.
Swire intends to demolish the office building to build the mixed-use 1,049-foot tall One Brickell City Centre. The developer recently topped off several other building withing the Brickell City Centre complex.