Brickell World Plaza Explained

Brickell World Plaza
Location:600 Brickell Avenue, Miami, Florida, United States
Roof:520abbr=onNaNabbr=on
Floor Count:40
Floor Area:1089391square feet total614905abbr=onNaNabbr=on leasable [1]
Building Type:Office
Start Date:2006
Completion Date:2011
Opening:December 2011
Status:Completed
Architect:RTKL Associates Inc.
Developer:Foram Group

The Brickell World Plaza, also known as 600 Brickell, and formerly known as the Brickell Financial Center, is an office skyscraper in Miami, Florida, United States in the downtown neighborhood and financial district of Brickell at 600 Brickell Avenue. The former Brickell Financial Center Phase I, the Brickell World Plaza is a 520feet skyscraper, one of the tallest buildings in Miami.[2] 600 Brickell is located between the Sixth Street and Seventh Street Metromover stations.[3]

The building contains 600000square feet of leasable floor space, an eleven-story parking garage with 927 spaces, and a 30000square feet ground level public plaza.[4]

History

The 40-story building topped out in early 2009, but construction was then suspended, or greatly slowed, as the building was still not completed over two years later as of March 2011. The building lost an anchor tenant, a law firm with a $58 million, 10.5-year lease for 15 percent of the building (115,000 sq ft), in early 2009.[5] With the new name of Brickell World Plaza, the building had a scheduled opening date of August 2011. The Foram Group, building developers of Brickell World Plaza, have claimed that this slowed construction was strategic for the purpose of detail, and that after completion they would move their corporate offices into the building. However, the near halt in construction and the loss of a major tenant suggests that the delay was not strategic but due to the 2008 economic crisis and the falling demand for office space due to the excessive construction in Miami at the time.

Early in 2011, 600 Brickell got a $130 million construction mortgage loan from Los Angeles-based Canyon Capital Reality Advisors that would fund the rest of the construction. This was one of the largest loans issued in the city of Miami since the real estate crisis.[6]

When 600 Brickell came online in August–September 2011, it increased Miami's downtown office vacancy to nearly 25%,[7] and Class A Brickell vacancy to over 30%.[8]

The Foram Group hired Jones Lang LaSalle, led by veteran brokers Glenn Gregory and Noël Steinfeld, to handle leasing for the nearly 615000square feet building. In 2012, Gregory and Steinfeld said a full-court press to land tenants was finally underway. Shortly before Foram hired Jones Lang, the developer signed a pair of new-to-market tenants — New York-based lender Doral Money and Irvine, California-based mediation and arbitration services firm JAMS — to occupy a combined at the building. Gregory and Steinfeld have said that they were discussing with prospective tenants for about, although that includes some space being marketed to multiple companies.[9]

Amenities

The building, at the time of completion, was South Florida's first Cisco Connected Commercial Office Building in partnership with Cisco Systems Inc. It was planned to have its own dedicated hub connecting it to the Internet with a fast and secure connection.The project was designed by the global architecture firm RTKL and its developer was the Foram Group. The Foram Group's intended goal was to set a new gold-standard for technology and sustainability in international commercial property development by creating the most innovative and forward-thinking office building in Miami.

The Brickell World Plaza was the state of Florida's first building to be pre-certified under the U.S. Green Building Council's Leadership in Energy and Environmental Design (LEED) program.[10] In 2012, it did in fact receive LEED Platinum certification, becoming at the time one of very few buildings in the world of its size to receive this rating, the highest available from the US Green Building Council. The building incorporated pioneering work in efficiencies in energy, lighting, water, and material use, and incorporated a variety of other sustainable strategies to reduce its carbon footprint.[11] The building collects all rainfall and condensed water from the cooling towers in a 10000USgal tank to be reused for irrigation and makeup water for the fountains at Brickell World Plaza.[12]

It is also the first building in South Florida to be a part of Cisco Systems "Cisco Connected Commercial Office Building",[13] which means that it has a fast and secure, dedicated internet connection. The originally planned Brickell Financial Centre (two buildings) was to include office space, a hotel, luxury condominiums, and a public plaza. The actual Brickell World Center does not feature the hotel or condominiums, but the ground level plaza is planned to be a 30000square feet public space as well as 18000square feet of ground level restaurants and cafes, and an outdoor stage where events may be held, occupying the space originally dedicated to the Brickell Financial Centre II. The first eleven floors of the building above the plaza are a parking garage, while the remaining 28 floors are office space.[14] The outside of Brickell World Plaza is lit up at night similar to the Miami Tower. This began before Christmas in December 2011 with a ceremony with governor Rick Scott where a 40-foot wreath was hung on the building.[15]

Brickell Financial Centre II

Brickell Financial Centre II
Location:600 Brickell Avenue, Miami, Florida, United States
Roof:903feet
Floor Count:68
Building Type:Office
Status:Approved
Architect:RTKL Associates Inc.

Brickell Financial Centre Phase II, which had been scheduled for completion in 2011, would have been the tallest building in Miami and Florida upon completion, at 903 feet (275 m). It would have contained 68 floors.[16] The Brickell Financial Centre complex was always planned to be done in two phases, with the second building being constructed after the first, so the second building may still be built, presumably under a different, new name. The second phase was planned to be a mixed-use building, containing several hundred thousand feet of office space, as well as several hundred thousand feet of condominium and hotel space,[17] and would be a substantially larger building than the Brickell World Plaza.[14] The area where BFC II would stand was turned into a parking lot in late 2011 with the completion of Brickell World Plaza and included a small valet structure.

See also

External links

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Notes and References

  1. News: With New Tower Online Brickell Office Vacancy Nears 25 . Miami Today . Miamitodaynews.com . 2013-09-26 . 2013-10-01.
  2. Web site: Brickell Financial Centre Phase I | Buildings . https://web.archive.org/web/20110629103954/http://www.emporis.com/application/?lng=3&nav=building&id=292758 . dead . June 29, 2011 . Miami / . Emporis . 2013-10-01.
  3. Web site: Miami's future skyscrapers: Part I | Metro Atlantic. 2012-09-16. Metroatlantic.wordpress.com. 2013-10-01.
  4. http://www.miamiherald.com/2011/02/23/2081615/cbre-announces-miamis-brickell.html
  5. News: Brickell Financial Centre loses anchor tenant. South Florida Business Journal. Oscar Pedro. Musibay. Julie. Kay. 20 February 2009.
  6. News: Miami's 600 Brickell gets $130M loan . Brian . Bandell . South Florida Business Journal . February 16, 2011.
  7. News: With new tower online, Brickell office vacancy nears 25%. Bowden, Marilyn. September 2011. Miami Today News. 28 September 2011.
  8. Web site: Miami Commercial Realty Due For Rise As Capital Seeks Deals . Miami Today . Miamitodaynews.com . 2013-09-26 . 2013-10-01.
  9. News: Was it worth the wait? 600 Brickell's delayed leasing ends . Eric . Kalis . March 19, 2012 . 2013-10-01 . dead . https://web.archive.org/web/20131004213415/http://www.crec.com/press/files/13324228333.19.12DBRWasitworththewait_600Brickelldelayedleasingends.pdf . October 4, 2013 .
  10. Web site: Miami Beach 411 . 2020-07-07 . https://web.archive.org/web/20160303170633/http://forums.miamibeach411.com/index.php?%2Fforums%2Fviewthread%2F410%2F . 2016-03-03 . dead .
  11. Web site: 2013-02-21 . Foram Group's 600 Brickell Certified LEED Platinum by U.S. Green Building Council . 2023-07-14 . www.businesswire.com . en.
  12. Web site: Jerant . Frederick . A LEED Legacy in Miami . American Builders Quarterly . 2013-08-13 . 2013-10-01.
  13. Miami's Brickell World Plaza Will Open in August for Smart Global Businesses . Business Wire . 2011-02-28 . 2013-10-01.
  14. Web site: Brickell World Plaza, Miami . SkyscraperPage.com . 2013-10-01.
  15. News: Governor Scott celebrates the season in South Florida this weekend. December 3, 2011. Miami Herald. 2011-12-21.
  16. Web site: Brickell Financial Centre Phase 2, Miami . SkyscraperPage.com . 2013-10-01.
  17. http://www.brickellkey411.com/Brickell/brickell-financial-centre.htm