This week, CI Financial, Canada’s largest investment manager, became the latest major company to announce plans to occupy a 20,000 square-foot office at Miami’s 55-story 830 Brickell, a new Class A plus office tower now under development by OKO Group and Cain International, for its U.S. headquarters.
CI Financial becomes the third major tenant to lease space at 830 Brickell this year, most recently joining tech giant Microsoft, which just last week announced that it will be taking 50,000 square feet at the tower for its first Miami office, and tech-focused private equity firm Thoma Bravo, which is taking 36,500 square feet in the tower. CI Financial’s new U.S. headquarters becomes the latest example of a global finance firm expanding to Miami’s Brickell Financial District, further validating the neighborhood’s position as “Wall Street of the South.”
“830 Brickell has become a natural fit for new-to-market finance firms establishing a presence in Miami,” said Ryan Holtzman of the Cushman & Wakefield team, who represented 830 Brickell’s ownership in the lease transactions. “Offering tenants market-leading amenities, a walkable location in the heart of the Brickell Financial District, and access to several transit options and countless shops, restaurants and residences nearby, 830 Brickell is in a league of its own – the first trophy office tower to be developed in Miami’s urban core in more than a decade, and South Florida’s only building capable of accommodating tenants in the market for core Class A-plus space.”
A 2021 analysis of Downtown Miami’s finance sector surveyed the district’s emergence as a hub for asset managers and investment advisors. A report by the Miami Downtown Development Authority (DDA) and Convergence found that the number of S.E.C.-Registered Investment Advisors (RIAs) in Downtown Miami grew from 82 in 2018 to 111 through year-end 2020 – a 35 percent net increase. Total Reported Assets Under Management in the district more than doubled from $75 billion in 2018 to $152.4 billion during the same period.
The growth of Downtown Miami has been fueled an influx of businesses, investors and people. The list of recent businesses that have expanded into Downtown Miami includes Blackstone, Pipe, Point72, Moore Capital, Founders Fund, ShiftPixy, and BlockTower Capital. Greater Downtown Miami’s residential population now stands at 115,000 – a 65 percent increase since 2010. The district is home to a daily population of more 250,000 people and attracts nearly six million visitors annually. This activity is opening the door to new entertainment, shopping and dining options, including restaurants, retailers, cinemas, grocery stores, museums and performing arts venues.
830 Brickell was designed by renowned architecture firm Adrian Smith + Gordon Gill, with interiors by Italian architecture and design company Iosa Ghini Associati. Together with OKO Group and Cain International, the designers have anticipated how the COVID-19 pandemic will reshape the future of business by incorporating new features into the plans, including ultraviolet lighting in air filtration systems, touchless technologies, world-class health and wellness center, a rooftop bar and first-class restaurant, and more.
The tower’s amenities include a rooftop restaurant and lounge with expansive views of the City and Biscayne Bay, a world-class health and wellness center, a conference facility, an outdoor terrace, cafés and street-level retail. Multiple transit options are nearby, including Metrorail and Metromover, the Brightline, walking paths, cycling lanes and bay access points. Additionally, some of Miami’s top residential and lifestyle-driven neighborhoods are situated just minutes away, such as Miami’s Design District, Wynwood, Edgewater and Miami Beach.