Type: High Rise Class "A" (New)

Role: Asset Manager, Owner's Representative, Leasing and Management Responsibility, 1985-1992

Description: 420,000 square foot Class "A" new high-rise office building

Outcome: 93% leased, fully stabilized with 80% credit tenants

1221 BRICKELL is a 420,000 square foot project located at 1221 Brickell Avenue, Miami, Florida. It is a Class "A" new office development directly competing with Equitable Life Assurance Society of the United States' 420,000 square foot One Brickell Square (801 Brickell Avenue) developed by Tishman Speyer and Metropolitan Life Insurance Company's project, 730,000 rentable square foot Barnett Tower (701 Brickell Avenue). These three Brickell Avenue projects also competed with downtown Miami projects such as Miami Center, a mixed-use development; Southeast Financial Center, 1.2 million rentable square feet developed by Gerald D. Hines Interests; Museum Tower, 220,000 rentable square feet developed by Armando Codina in joint venture with Prudential Insurance Company.

Project responsibilities included taking over the owner representative role more than one year prior to Certificate of Occupancy. Creation of lease documents. Selection of finishes and creation of Building Standard Work Letter for architectural contract documents. Creation of standard architectural details. Selection of building hardware, door frame detail, carpet, ceiling tile and light fixtures. Hiring of base building staff including management staff and building engineer. Negotiation and award of basic building service contracts such as elevator maintenance, landscaping, parking garage management and maintenance and security.

Creation of standard lease proposal, lease pricing, all marketing and collateral marketing materials, coordination of advertising and media program, hiring, training and supervision of entire leasing staff.

Interviewing and selection of designers and architects for smaller and prime tenants. Coordination, scheduling and participation as owner's representative of design meetings with tenants. Finalization of design on behalf of owner and supervision of creation and processing of final contract documents through competitive bid and commencement of construction.

Negotiations with tenants, execution of Letters-of-Intent on behalf of owner, and follow-up of lease negotiations. The leasing responsibilities included the direct negotiation of the two prime tenant leases on behalf of the owner.

At the time 1221 Brickell was taken over there were no leases or Letters-of-Intent signed for this office tower in a marketplace which had 2 million square feet of new Class "A" vacancy. The project was 55% leased nine months from the date of obtaining Certificate of Occupancy and 90% leased and occupied upon completion of Langhorne involvement.

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