Boston-based Fidelity Investments finds new Miami home on Brickell
By Yudislaidy Fernandez
Boston-based Fidelity Investments is opening a new office in the Brickell corridor.
The mutual fund giant inked a lease to occupy 14,000 square feet of Class A office space at 701 Brickell Ave.
Fidelity handles about 450 mutual funds and offers a line of mutual funds and annuities, investment guidance and portfolio consultation services. The firm has operations in Miami and Coral Gables.
Fidelity is making major renovations to its floor plan but hopes to move to the 24th-floor space in May, said Scott Strickland, senior vice president and leasing director at Jones Lang LaSalle. Leasing rates range $46 to $50 full service.
The mutual fund firm is to share the space with neighbor tenant SG Private Banking, a private wealth management arm of Societe Generale Group.
After executing Fidelity's lease last month, the 33-story Bank of America building with about 677,000 rentable square feet of office space is 98% occupied, Mr. Strickland said.
He said the firm took the largest vacancy in the building, which now has close to 8,000 square feet available for leasing. The largest space for rent is about 3,000 square feet.
"We are very well-positioned with great tenants," he said. "It's one of the premier business addresses."
The building's anchor tenant, Bank of America, occupies 80,000 square feet. Holland & Knight law firm occupies the largest square footage with 100,000 square feet and financial management firm Merrill Lynch stretches over another 80,000 square feet.
Other international-focused companies lease in the office tower, including two of Spain's leading banking institutions, Banco Popular Español and Caja Madrid, and Swiss bank EFG Capital International Corp.