Brickell City Centre’s First Phase Should Have Had More Office Space, Swire CEO Says

Brickell City Centre’s office space is 100% full, and the CEO of developer Swire Properties said he would like to have more of the space to lease.

“I kind of wish we had built more office” Swire chief Guy Bradley told investors in Hong Kong last week, referring to Brickell City Centre.

Bradley added that phase two of Brickell City Centre would include an office component. No update on a construction timeline was provided, however.

The office market in Miami is now very favorable to landlords, he said. A company presentation last week also said the Miami retail market is seeing growing sales and steady demand.

Swire’s presentation said that the One Brickell City Centre supertall tower would include a total of 1.96 million square feet of gross floor area.

The tenant quality now in place at the first phase of Brickell City Centre is extremely good quality, in both the shopping mall and office buildings, Bradley said.

The mall is nicely positioned for the future, Bradley added. Retail space has now reached 90% leased and sales at the mall are continuing to grow.

Condo sales are moving at a “reasonably slow” pace compared to the hot Miami residential market of 2014, Bradley said. Weakness in Latin America continues to affect Miami, but the Reach condo is now nearly sold out and Rise is now around three quarters sold, Bradley added.

 

 

 

 

25 Comments
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Anonymous
1 year ago

Its a marathon swire has done their part in completely transforming brickell no reason they wont execute on office when the time comes…

POLO
1 year ago

The developer of 830 Brickell across Brickell City Centre knew the market was ripe for office development. He has taken the lead.

Anonymous
1 year ago

that would be the new OKO office building. They’re positioned pretty.

Anonymous
1 year ago

wasn’t so clear 5 years ago when BCC was approved. Cheers

Anonymous
1 year ago

They built out most of Brickell Key over time. They have a track record of going long.

Anonymous
1 year ago

Just build your super tall – One Brickell City Centre already! Would ya !

Magazine
1 year ago

They built before tax reform helped drive more businesses from high-tax areas in places like NJ, CT, NY, and Illinois.

Anonymous
1 year ago

Bullsh*t

Anonymous
1 year ago

Lol

Anonymous
1 year ago

Lack of Vision, Perhaps?

Anonymous
1 year ago

All they have to do now is figure how to fill BCC with patrons. The place still looks empty compared to Bal Harbour.

Anonymous
1 year ago

Where is the news here?

Anonymous
1 year ago

I don’t understand why so many condos are being constructed? Office space I can guarantee you would be 100% leased! You can’t tell me all these cities all across the world continue to build office towers an Miami haven’t seen one in years! No way office space is dead right now no way!

Shawn Kouri
3 months ago

One Brickell City Centre Tower better be built!

Anonymous
1 year ago

Swire CEO must read the comments here on TNM from time to time then. Anyhow, if you want more office space then do it, don’t wish it. You practically made Brickell. Keep on making it.

Anonymous
1 year ago

…and the second phase should have a better looking supertall.

Anonymous
1 year ago

i’ll ink a lease

Adjusting Tin Foil
1 year ago

I wouldn’t trust anything owned by Swire, given they’re in Hong Kong and probably let JingPing or whatever his name is – the ChiComs – you know what I mean have sway. Especially not if I owned a tech enterprise and I wanted to protect my property from Chinese intellectual theft

Shawn Kouri
3 months ago

Swire made a pretty bad decision to wait until two condo towers sell out just so it can break ground on this 80 story tower. Here they are and now they want more office spaces. They are going to have to break ground on One Brickell City Centre 1049 foot 85 story tower no later than this year to be completed in 2024 or 2025. Condo sales are a lot slower now and as of this point there’s now an even bigger demand for officers. Somebody’s gonna have to tell Swire that they are going to have to break ground no later than this year. This tower better be built and I’m not playing around. This was supposed to be the most important component of phase 1 of Brickell City Centre. What a waste. What a waste of time and money. It’s time to have more office space is so more Miami residents who could have started their careers years ago can begin their career and bring home more money so that way they can get through Miami‘s rising cost of living. Now with the coronavirus pandemic, the developer of this tower is running out of time. So come on! Stop playing around and let’s go!

Anonymous
1 year ago

wishful thinking doesn’t do sh**t

Anonymous
1 year ago

i’m sure they are “wishing” they built fewer apartments.

Anonymous
1 year ago

Hell, all they had to do in the beginning is build the mall, the condos, and the 1000ft tower with hotel and offices.

Anonymous
1 year ago

There is that much demand for shell companies and porn companies to have offices there? wow who knew

Anonymous
1 year ago

Clearly you don’t have a good job

Anonymous
1 year ago

Swire has lost its mojo,