January 26, 2023 9:00 AM
Newmark announces it has completed 20,000 square feet of Class A office lease transactions in Southern Florida. Notable tenants include Finanz Butik Management, LLC (Finanz Butik) and Balanz Advisors, LLC (Balanz USA), represented by Newmark’s Senior Managing Directors Clay Sidner and Jeremy Hakala.
”These transactions represent a notable milestone as the tenants expand their South Florida presence in Class A office spaces,” said Sidner. “We were able to leverage our long-term client relationships coupled with our local market expertise to seamlessly facilitate their site selections across the South Florida market.”
The recent leasing transactions include:
- Finanz Butik signed a 13-year, 5,975-square-foot sublease from Bradesco, formerly BAC Florida Bank, to occupy a portion of the 14th Floor of The Plaza Coral Gables’ South Tower. With Finanz Butik’s end goal being a lease expansion, Newmark secured the move-in-ready opportunity in Coral Gable’s newest premier development. Sidner and Hakala represented both the subtenant and the sublandlord.
- Balanz USA signed a long-term 8,001-square-foot lease to occupy the seventh floor of The Plaza Coral Gables’ North Tower at 2811 Ponce de Leon Boulevard. The turn-key space will serve as the first US-based office for Balanz.
According to Newmark Research, South Florida’s tri-county office market, including Miami County submarkets Brickell Avenue and Coral Gables, experienced an increase in tenant demand and achieved a positive net absorption of 101,175 square feet. Further highlighting the market’s strength, in Q3 2022, South Florida’s leasing activity totaled approximately 3.3 million square feet across 1,063 transactions.
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. Newmark generated revenues of approximately $3.1 billion for the twelve months ending September 30, 2022. Newmark’s company-owned offices, together with its business partners, operate from approximately 180 offices with nearly 6,700 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
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