Brickell World Plaza

[Endeavor305]

Q, next time you should take a telescopic lense and zoom into the windows at 500 Brickell and get some voyeur shots.

[QuantumX]

Originally Posted by Endeavor305

Q, next time you should take a telescopic lense and zoom into the windows at 500 Brickell and get some voyeur shots.

When I was younger, that might have interested me.

[Exploratus]

From South Florida Business journal today.

Brickell Financial Centre has lost its anchor tenant.

Bilzin Sumberg and developers of the upscale office tower now rising in Miami have agreed to cancel the law firm’s lease on 115,000 square feet, Bilzin’s top executive said.

“We mutually agreed to release each other from all obligations under the lease,” said Bilzin Sumberg managing partner John Sumberg.

The deal fell apart late Thursday afternoon, but Sumberg did not disclose details as to why.

The firm had a 10.5-year, $58 million lease to occupy about 15 percent of the building, which is one of several new offices underway in Miami.

The loss of its largest tenant comes amid industry speculation that Brickell Financial Centre is facing increased financial pressures.

Loretta H. Cockrum, founder, chairman and CEO of building developer Foram Group, could not immediately be reached for comment.

But the developer recently announced that it had topped off the 40-story, 600,000- square-foot building at 600 Brickell Ave. The tower is set to be complete in early 2010.

Bilzin’s departure is the most recent sign of problems in an office market experiencing rising inventory, including from sublets, and falling demand.

Brickell Financial is one of three buildings under construction that are poised to deliver nearly 2 million square feet of new class A offices between downtown Miami and Brickell Avenue.

Sumberg said his firm is now back in the market looking for 80,000 to 100,000 square feet to lease in downtown Miami or the Brickell Avenue area. Bilzin Sumberg occupies 80,000 square feet at the Wachovia Financial Center in downtown Miami, where it could also opt to remain, he said.

“If they made me a deal I would stay,” Sumberg said. “If one of the other buildings made me a deal, I would go there. We are looking for an economic deal.”

Cushman & Wakefield leasing director Don Cartwright, who represents Wachovia Financial Center, could not be reached for comment.

But there are ample projects that would likely be interested in snagging Bilzin Sumberg. Developer Alan Ojeda is building a 585,000-square-foot building at 1450 Brickell Ave., but has yet to sign a major tenant.

MDM Development Group and partner MetLife are racing out of the ground with Met 2 Financial Center. Greenberg Traurig is the 700,000-square-foot building’s anchor. The firm has signed a lease for 150,000 square feet. The retail portion of the project took a hit late last year when Whole Foods pulled out of a deal to occupy 45,000 square feet.

“We have a real opportunity in a tenant-oriented market to make a good deal for ourselves,” Sumberg said.

[Roark]

It seems as though Bilzen Sumberg was very excited to move into the LEED Certified Building only a couple of months ago. Why not just renegotiate the price/terms?
Is it really that much more expensive to rent in a Green Building?

[305Lover]

I would assume so, everything "green" really is expensive.

[Vitruvius09]

energy cost are much lower and the tenants are really happy to have natural lighting and not working around asbestos products or other pollutants or contaminants.

i just think since the market prices are lower why not renegotiate the deal im sure the amount of money lost by backing out is low compared to the savings of renegotiating elsewhere (especially with all the new inventory)

[Endeavor305]

Or maybe when they saw how the building was coming out they said "Damn that s**t is ugly!".

[QuantumX]

Originally Posted by Endeavor305

Or maybe when they saw how the building was coming out they said "Damn that s**t is ugly!".

Well, compared to the way Met2 and 1450 Brickell are shaping up, it does look kind of pathetic. It already looks like one of our older buildings and I mean really old considering how well Wachovia and BOA have aged over the past 20 years. They were truly ahead of their time because they fit right into the new skyline, unlike this below which looks like something from a bygone era even before completion.

http://farm4.static.flickr.com/3325/...3d020975_b.jpg
image hosted on flickr


http://farm4.static.flickr.com/3625/...f0d2edf6_b.jpg
image hosted on flickr

[kevinkagy]

Awww poor BFC I. Maybe once the glass front is in place it'll look better. I'm just excited to see how the square in front will look, I wonder how it'll affect pedestrian activity in the area.

[QuantumX]

http://farm4.static.flickr.com/3433/...fc792869_b.jpg
image hosted on flickr

[305Lover]

Originally Posted by kevinkagy

Awww poor BFC I.

LOL, that was funny! But I agree, the plaza is what counts (and hopefully in the future BFC II).

[miamipaintball]

why is everyone complaining about the look of the building? i think it gives it character, and the city aswell, i dont wanna see all modern looking buildings when im walking downtown, a nice old looking building will give downtown some character like ny or chicago.

[Roark]

Originally Posted by miamipaintball

why is everyone complaining about the look of the building?

Because that is what they do here.

[QuantumX]

Originally Posted by miamipaintball

why is everyone complaining about the look of the building? i think it gives it character, and the city aswell, i dont wanna see all modern looking buildings when im walking downtown, a nice old looking building will give downtown some character like ny or chicago.

That's great! I'm glad you feel that way! After all, I did say this in a previous post:

Originally Posted by QuantumX

To me, it has an "old" New York look about it, which some people might like.

http://farm4.static.flickr.com/3427/...4b11a01c_b.jpg
image hosted on flickr

[Displaced Miami Man]

I would like to chime in as well and say that I think it is a nice looking building and when all the glass work is completed as well as the roof I think it will look even better. But, that is just my humble opinion. Peace.

[SkyDiveJunkee]

Originally Posted by Roark

Because that is what they do here.

This is a forum to share ideas about architecture and urban planning--to criticize and discuss current trends in Miami skyscraper design is both relevant and appropriate here.

[Dale]

Well, the streetlamps in the pic are nice.

[Endeavor305]

Even though the white pre-fabricated-looking exterior isn't as modern as 1450 or Met2's all glass exterior, at least the curvy west side adds some style. It also has a last chance to redeem itself with the crown. If the crown (when finished) comes out nice and modern then it might change the buildings appeal some.

[Dale]

Masonry exterior with flat top for Miami.

What will they think of next ?

[SteveChaconJr]

BFCP-I is under construction and seems to be a good ways ahead. However I personally haven't been able to find much current information on the second phase of this project, BFCP-II. Does anyone know what the official plans are--start date, etc.? Any information would be much appreciated. Thanks.