C&W Closes Downtown Miami Lease Renewal

Cushman & Wakefield’s advisory team of Tony Jones and Ryan Levy worked on behalf of the long-term tenant in the lease negotiations.

Courthouse Tower in Miami
Courthouse Tower in Miami

Cushman & Wakefield has negotiated a long-term lease renewal with Liebler, Gonzalez & Portuondo at Courthouse Tower, a 162,510-square-foot office tower in downtown Miami. The law firm will continue to occupy a 14,875-square-foot space on the building’s 24th and 25th floors.

Located at 44 W. Flagler St., Courthouse Tower is currently undergoing a $5 million capital improvement program that includes upgrades to the building’s facade, signage, lobby, corridors, elevator lobbies and amenity spaces. The asset features a conference room, fitness center, storage, a Sabadell Bank branch and ATM.

Long-term tenant

Executive Tony Jones and Director Ryan Levy of C&W’s tenant advisory team represented the tenant in the lease negotiations, while Tere Blanca, president & CEO at Blanca Commercial Real Estate, worked on behalf of New York-based owner Brickman. Liebler, Gonzalez & Portuondo has been a long-term tenant in the building, employing more than 60 people at Courthouse Tower. The firm also has offices in Orlando, Tampa and New York.

“Liebler, Gonzalez & Portuondo saw an incredible opportunity to immediately reduce their real estate costs and capitalize on up-front cash savings by extending their lease well in advance of their natural lease expiration,” said Levy, in a prepared statement.

Courthouse Tower offers access to the Miami-Dade County Courthouse as well as several nearby amenities including dining options, lodging and retail venues. The property is accessible via public transportation and Interstate 95, which serves as a hub for major Miami thoroughfares such as Palmetto Expressway, State Road 112 and Dolphin Expressway.

Image via Google Street View