Wachovia to move into Espirito Santo Plaza
By Samantha Joseph
Wachovia Bank plans to move into Miami's new $160-million Espirito Santo Plaza, just blocks from the branch's current home at 800 Brickell Ave.
The bank is leasing about 8,000 square feet that it hopes to occupy before year's end with a retail branch and brokerage group. The move will see Wachovia trade in its current site and signage, which features the bank's name on the north and south sides of 800 Brickell, for part of the ground floor of the1395 Brickell Ave. site.
"We will have visibility where it needs to be - on street level," said Wachovia state development manager Chris Hanrahan. "We didn't really gain anything by the sign that we had on the old building. The type of signage, and its location on this building will serve our customers much better."
Wachovia is the latest of three banks set to leave other Brickell addresses for the 36-story building. Espirito Santo Bank, the anchor tenant, has already relocated, and a private bank, Bancaja, is to move in by June 1.
"We're going to a superior location," Mr. Hanrahan said. "This building is going to be a focal point. As a result, it will be much more accessible to our customers."
Holly Real Estate, which is responsible for leasing the new property, says the plaza is 85% leased, with most of its 1.2 million square feet of office space accounted for in lease agreements with 13 companies.