World’s Largest Aviation Leasing Company Leases Top Floor Of 830 Brickell For U.S. HQ

The largest aviation leasing company in the world has just signed a deal to bring its U.S. headquarters to the under-construction 830 Brickell office tower.

AerCap, which has its main headquarters in Ireland, will occupy the entire 50th floor of the building, with 20,000 square feet. The company will have 50 employees working there.

830 Brickell is set to become Miami’s second tallest office tower at 724 feet above ground.

Asking rents at 830 Brickell are said to be at or above $100 per square foot – the highest in Miami, and on par with New York.

The developers of the project say they are seeing strong demand for space in the new building.

Talks are now underway with enough tenants to occupy the entire building, the head of developer Cain International’s Miami office told Commercial Observer.

CI Financial also announced last week that it was doubling the amount of space it was leasing in the building for its U.S. headquarters to 40,000 square feet.

Other announced tenants include Microsoft and Thoma Bravo.

In addition to Class-A office space, the project includes a rooftop bar, lounge and restaurant, a health and wellness center, a conference facility, an outdoor terrace, cafés and street-level retail.

Completion of the 55-story, 640,000 square foot tower is scheduled for 2022, according to a press release issued yesterday.

OKO Group and Cain International are the developers.

 

Photos from January 17:

(photos: Kyle Merville)

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Anonymous
3 months ago

Swire missed the boat not building their supertall…

Anonymous
3 months ago

Miami has tons of tailwinds right now. I know a project like that takes a while to develop but it seems like a supernal with that location would have plenty of demand from Fortune 500s and Multinational firms.

Anonymous
3 months ago

supertall*

Anonymous
3 months ago

Maybe we end up getting Amazon’s HQ3 🙂 (wishful thinking)

Anonymous
3 months ago

Desantis is the best governor in the USA!

Anonymous
3 months ago

Yeah.. he introduced a bill about his new law, got it approved, and didn’t do a damn thing when he saw it get violated a week later.

Anonymous
3 months ago

Brandon and his cronies haven’t done a damn thing about enforcing slew of laws that have been on the books for years, like… IDK, punishing legit criminals?

Not Anonymous
3 months ago

Not you again….

Not Anonymous
3 months ago

“Not you again….”
sorry meant to reply here

Not Anonymous
3 months ago

“Not you again….”
sorry meant to reply here (oops)

El Pingú
3 months ago

A bunch of genderless liberals here 😂

Anonymous
3 months ago

I love how snowflakey the “conservatives” have gotten about gender lately. Always bringing it up like it’s some threat to them personally. Defensive projection much? I guess it’s like what they say about the biggest homophobes being in the ones deepest in the closet.

Anonymous
3 months ago

lol…

Anonymous
3 months ago

You think with your pingu

Anonymous
3 months ago

Are you kidding?

Anonymous
3 months ago

Three years after announcing it, I had a feeling Swire wasn’t serious about building it anyway. Besides, I think the design of it is terribly elementary.

Anonymous
3 months ago

Also Hollo and FECR have wasted precious time since finishing Panorama, One Bayfront Park could be halfway up too…

DWNTWNR
3 months ago

The Hollo’s are methodical and risk averse. The pro forma for One Bayfront Park would have been a nightmare three years ago. The specs of the building read like a mini city all in one building. There wasn’t demand back then and most CRE professionals (especially native to Miami like the Hollo’s) were bearish at the time.

Anonymous
3 months ago

Great companies plan years ahead and position themselves accordingly. Oko had great vision, Hollo and Swire not so much..

Anonymous
3 months ago

You seem to know a lot about the Hollo’s. Do you know when the Towers by Foster will be launched by any chance? It will pull some of the gravity in Brickell around that area.

Anonymous
3 months ago

The Towers by Foster is unimaginative. Two boxes and floating gardens, whoopee… The original few renderings of OBP were amazing, but now it looks like it’s been sodomized to a skinny box.

Anonymous
3 months ago

It’s one floor.

Anonymous
3 months ago

The supertall is coming… stay tuned

Anonymous
3 months ago

The boat isnt going anywhere, and neither is Swire.

Anonymous
3 months ago

Hmm. An opinion based on what exactly?

Anonymous
3 months ago

I bet they (the developer) regret not building a much bigger tower.

Anonymous
3 months ago

I mean once they blocked all the views from the SLS Lux they should have just gone as tall as they could have 😂🤣. But I guess they were like “well now that we fucked the views of the SLS Lux we don’t need to go any taller”.

Anonymous
3 months ago

My SLSLux view is great.
830 Brickell only blocks 1 of the 4 sides.
So what?
The best views are hanging out poolside anyway.

Not Anonymous
3 months ago

what a flex

s.k
3 months ago

Not really. Two sides are blocked by 830 Brickell (East) and The East Hotel (North), not to mention that sooner than later, the Burger King will be gone and your West view will be blocked. Only South view is “safe”.

Anonymous
3 months ago

Little by little every major company will have offices in Miami but we need to expedite this. We need major HQs to come to Miami like today!

Anonymous
3 months ago

In before the usual people complain about “but what about jobs for Miami residence” while the same people don’t realize 90% of FIU graduates leave the city but with these new jobs and interest in Miami that number will fall.

Anonymous
3 months ago

No way is it anywhere close to 90%, especially for a commuter school. Even UM isn’t likely near 90%. In fact the FIU grads I’ve come across with STEM or business school degrees are raking it in here in the Miami metro.

Anonymous
3 months ago

Yes, now that many companies have an interest in moving offices to Miami more graduates are staying and salaries are increasing, but pre covid most college gradate jobs in Miami were paying less than the national average. This is because people came for the city and were willing to sacrifice wages, look up south florida brain drain and you’ll find many articles talking about it (pre covid) some written by FIU faculty members.

Anonymous
3 months ago

The “brain drain” hysteria was propagated a decade ago.
The 2008 banking crisis’ silver lining was cheap rent in the urban core and a hell of a lot of brains stayed/moved to Miami in the 2010-2019.

That brain drain problem is over.

Anonymous
3 months ago

Source?
Where do you get that 90% of FIU grads leave the city?

Anonymous
3 months ago

That west facade for God’s sake

SLS Lux forced to change ocean view for concrete block wall view

Anonymous
3 months ago

Only one side is blocked by 830.
The 01, 02, 03, have views to Turkey Point, and most people didn’t buy SLS Lux views.

Anonymous
3 months ago

they should have bought the ground around them if you want to keep a view.

Anonymous
3 months ago

If my math is right, $100 per square foot is about $6,666.67 per month for 800sqft, which is a lot more than what you can make renting a residential apartment of that size (and I’m no developer but it seems to me that offices optimize more the amount of sellable square footage since they’re more open plan). Why aren’t more developers building office towers then? Bring them!!

Anonymous
3 months ago

Brickell needs more office space badly, I think it was almost all leased out even before covid, downtown on the other hand has space available cause it isn’t as attractive as Brickell. Now that Brickell is almost totally developed some of the dilapidated buildings in downtown can be torn down and rebuilt much higher.

Anonymous
3 months ago

yet they aren’t renting 800 sq ft.
they are renting 20,000 which would be $2,000,000 per month – $24 M per year.
I’m sure buying it would be near $50-70 M.
Seems they would buy it. Every month that goes by puts $2M in equity.
In 10 years with rent they have zero. Can always sell the top floor anytime.

Anonymous
3 months ago

The price at 100 psf is annual, but yes it is still a considerable amount of rent for office space.

Anonymous G
3 months ago

Going to be beautiful! Lets go Civic Construction! Get this building done ASAP!

Jesus
3 months ago

Excellent. One can only dream but imagine if a company tells them they want to have more space at the building and they have no choice but to add height to the building. I agree with a comment on here about Swire missing out on filling in this increased demand. It would’ve been awesome if the developers of this tower had hindsight at this incredible boom taking place in South Florida.

Anonymous
3 months ago

She’s almost done!

Anonymous
3 months ago

The curtainwall appears to be going slow.

Someone that knows.
3 months ago

They are close to signing a lease with a substantial tenant at $117 NNN!!! Winning!

Anonymous
3 months ago

The numbers cited in the report do not seem very clear to me.
First, a rent of US100 per square foot corresponds to a rent of US2 million per floor of 20,000 square feet. I can only believe that this value would be per year, right?
Second, if the tower has 55 floors and each floor is 20000 square feet, how can it only have 640000 square feet in total? This would correspond to 32 floors.

MiamiArchi
3 months ago

Not 100% sure but the SF numbers could actually make sense.

Two stories for double height lobby / probably back of house etc.
I think its about 10 stories of Garage.
1 or 2 stories for Sky Lobby and amenity deck (above Garage)
2 stories for Restaurants space at the top.
And they most likely need 1 to 2 floors for mechanical equipment.

So that’s 18 stories. of Non office space. Leaving 39 Floors of Office space

Then About 12 floors have less SF space because they don’t cantilever off the building.
So Assuming 25 floors (based on the rendering) at 20,000 SF that’s 500,000 SF
That leaves 12 floors with approx 12,500 SF

Anonymous
3 months ago

20k Square feet is rounded (slightly up) ranging for 13k-19k sq, the building’s shape is slightly differently on different floors, and finally the parking is the first 10-15 stories so that isn’t factored into the office space.

Anonymous
3 months ago

Yes. $100NNN per year.

Anonymous
3 months ago

Build the office buildings and they will come.

Anonymous
3 months ago

So after reading this, and articles elsewhere, I’m wondering “why are developers still suffering from acute condo tunnel vision and not building more office towers”?

Anonymous
3 months ago

Uhh.. because it’s their money and they can build what they want…

Anonymous
3 months ago

Let me guess, AerCap’s Latin American operations…

Anonymous
3 months ago

SLS’ mural hurts my eyes.