December 19, 2016
Wells Fargo lease is Downtown Miami’s largest office lease of 2016 so far, valued at $32 million.The bank’s expansion of 54,160 square feet in the Wells Fargo building, makes the bank the building’s biggest tenant at 150,816 square feet. Asking rent ranges from $42 to $45/square foot. The bank uses all of the 22nd, 23rd floors, and some of the 33rd. They’ll start building out its space and moving throughout 2017.
The deal helps Metropolitan Life, whose office tower’s occupancy rate was behind the market at 73 percent. Wells Fargo’s brings the building up to about 80% occupancy.