CP Group Ignites Downtown Miami’s Iconic Miami Tower with Over 50,000 SF in Renewals and High-Profile New Leases
In a powerful demonstration of sustained market confidence and the successful execution of a major capital improvement plan, CP Group, a prominent owner-operator of commercial office properties across the Sunbelt, alongside partner DRA Advisors, today announced a massive wave of leasing activity at the Miami Tower. These transactions, totaling over 50,000 square feet, include the arrival of premier healthcare providers and the crucial retention and expansion of long-standing, blue-chip tenants, firmly re-establishing the iconic Downtown Miami skyscraper as a preeminent business destination.
The centerpiece of this leasing momentum is a significant new-to-market lease that brings cutting-edge preventive medicine to the heart of the city. Princeton Longevity Center and LifeSpan Medicine, both operating under the umbrella of LifeSpan MD, have committed to occupying the tower’s entire 42nd floor, encompassing 14,692 square feet. This move introduces two leading longevity-focused healthcare practices to Downtown Miami, capitalizing on the demand for high-end medical services in a prestigious, centrally located environment. The tenants were expertly represented by Blake Goodman, Lucia Hedke, and Miles Glascock of JLL.
Dr. David A Fein, Medical Director and Founder of Princeton Longevity Center, underscored the strategic rationale behind selecting the Miami Tower. “Miami Tower offers the prestigious, modern work environment that Princeton Longevity requires for the state-of-the-art, high-touch preventive and longevity medicine our centers provide to our discerning patients,” Dr. Fein stated. He further praised the building’s enhancements, noting, “The tower’s upgraded amenities, central location, and commitment to creating an elevated tenant experience make it an ideal home for our patients and practice.”
Loyalty and Growth: Anchoring Tenants Renew and Expand
Beyond the excitement of the new arrival, a significant portion of the leasing activity involved the successful renewal and expansion of several key tenants, underscoring the building’s ability to foster long-term relationships and support tenant growth.
The list of notable renewals and expansions includes:
- Boies Schiller Flexner LLP: The nationally recognized litigation firm demonstrated its commitment to the location by renewing its 18,349-square-foot full-floor lease on the 28th floor. Josh Hartman of Network Realty Advisors and Zach Talbot of Cresa facilitated the renewal.
- Boyd Richards Parker Colonnelli, P.L.: This well-regarded Miami-based civil litigation firm finalized the renewal of its 12,361-square-foot lease. The tenant was represented by Zach Talbot and Alex Gerome of Cresa.
- UBS Financial Services Inc.: A leading global wealth management firm, UBS signaled its continued confidence in the property by significantly expanding its footprint to a total of 39,885 square feet. Tony Jones of Cushman & Wakefield represented the tenant in the expansion.
- Worldwide Express: The global logistics provider also committed to growth within the tower, expanding its current space to 3,793 square feet. Allie McCracken of Transwestern represented Worldwide Express.
In all transactions, the leasing team for CP Group was spearheaded by Gordon Messinger and Randy Carballo of CBRE.
Repositioning Success: The Impact of Capital Improvements
This recent surge in leasing activity is the tangible result of a comprehensive, multimillion-dollar capital improvement program undertaken by CP Group. These strategic renovations were designed to modernize the building and significantly enhance the tenant experience, directly addressing the evolving needs of the contemporary workforce.
Key elements of the completed upgrades include a dramatic transformation of the first-floor arrival, creating a more welcoming and impressive entry point. The Sky Lobby has been completely renovated to include a modern café, a sophisticated tenant lounge, and flexible huddle spaces designed for collaboration and informal meetings. Furthermore, a modern, multi-room conference center was added, providing tenants with state-of-the-art facilities for large meetings and events.
The highly anticipated Sky Terrace, an outdoor space connected to the Sky Lobby that boasts panoramic city views and an outdoor pool, is nearing completion on its hardscape and landscape improvements. These enhanced amenities, along with new exterior LED lighting, have also repositioned the Sky Lobby and Sky Terrace as a premier public event venue, which officially launched this fall and has already secured major clients such as Xfinity and TAG Heuer.
CP Group’s proactive development strategy also included the delivery of high-end, move-in-ready spec suites designed for immediate occupancy. The first full floor of these spec suites, delivered last year, is now fully leased, a testament to their appeal and market timing. Following this success, the group subsequently completed and delivered an additional 18,000 square feet of spec suites in the third quarter of this year.
“The strong leasing activity we’re seeing at Miami Tower speaks directly to the premier experience we’ve created for today’s workforce,” remarked John Osborne, Senior Vice President at CP Group. “Our repositioning efforts are resonating with top-tier tenants, revitalizing Miami Tower’s status as one of the city’s most desirable business destinations.”
An Architectural Icon Reborn
The 47-story Miami Tower, designed by the late Pritzker Prize-winning architect I.M. Pei, remains one of Miami’s most recognizable and architecturally significant buildings, distinguished by its striking tiered exterior glass and famous elaborate LED light displays. Constructed in 1987, the property offers 37 floors of Class A office space, alongside 10 floors of parking and street-level retail.
Beyond its architectural distinction, the tower offers unparalleled connectivity. It is ideally positioned with dedicated access to Interstate 95, situated between the SE 2nd Street on-ramp and the SE 3rd Street off-ramp, providing tenants with convenient access to a wide array of luxury hotels, acclaimed dining options, and prime residential areas in the downtown core. Additionally, its location features an on-site Metrorail station and adjoins the Hyatt Regency Miami, making it a highly accessible hub just 6.5 miles from Miami International Airport.
The successful combination of architectural prestige, cutting-edge amenities, and superior logistical placement has solidified Miami Tower’s position as a vibrant, future-forward hub for commerce, a vision brought to life by the strategic investments of CP Group and DRA Advisors.
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