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Front Page » Top Stories » Londonbased Bank Expected To Lease 60000 Square Feet At Four Seasons

Londonbased Bank Expected To Lease 60000 Square Feet At Four Seasons

Written by on August 14, 2003

By Susan Stabley
A London-based bank may become the first office tenant for Four Seasons Hotel and Tower, according to its developer.

A contract is expected to be signed with HSBC Republic International Bank for 60,000 square feet of Class A office space, said Brian Collins of New York-based Millennium Partners, developer of the 70-story tower on Brickell Avenue.

HSBC’s Miami offices are at One Biscayne Tower, where the company’s lease is set to expire, Mr. Collins said.

An HSBC spokeswoman at the bank’s US headquarters in Buffalo, NY, declined comment.

The Miami offices are home to the international private-banking arm of London-based HSBC Group. The institution opened in Miami in 1979 as an Edge Act bank with fewer than five employees. Miami HSBC president Manuel Diaz said in March that the bank had 115 employees. Mr. Diaz could not be reached this week for comment.

Two other tenants – both law firms – are negotiating for space at Four Seasons, Mr. Collins said, though he would not identify them.

The $400 million mixed-use tower, set to open Oct. 1, features 200,000 square feet of office space offered at $32 to $35 per square foot, Mr. Collins said. While that’s as much as $5 a square foot higher than in other buildings, Mr. Collins said his company attaches a premium to the Four Seasons name and an available health spa and luxury services.

"They’re getting a lifestyle," he said.

The building, which the developer says will be the tallest residential building south of New York – includes 186 private residences and another 84 units that will be sold as condo-hotel units that can be used by guests when their owners are away. Residents can use the hotel’s housekeeping and concierge services.

The hotel will include an Italian restaurant and two bars – one indoors, the other at poolside. A 2-acre terrace has two large swimming pools, a childrens’ pool and a fourth, wider, 3-inch-deep pool for lounge chairs.

A high-end private athletic club, The Sports Club/LA, is scheduled to open about in mid-November on the fourth floor and already boasts more than 600 members, said a spokeswoman for the club. The $25 million, 40,000-square-foot facility will overlook the building’s four-story waterfall.

The tower’s 221-room hotel allowed the developers to build without before leasing any commercial space or selling any of its residences, Mr. Collins said.

Mr. Collins said a third of the private residences and condo-hotel units have been sold.

Units range from 1,114 to 6,499 square feet. There are six units per floor, and units are being sold for up to $6.2 million. Residential units are above the 39th floor, with penthouses taking up the the top four. Penthouses have not been drawn out, Mr. Collins said, and will be built to suit buyers.