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3 MiamiCentral Office Project Nearing Full Lease-Up

Tenants Drawn to Transit-Oriented Developments, Brokers Say
June 12, 2018
Viacom Inc. is preparing to move its MTV Latin America headquarters into 24,000 square feet at 3 MiamiCentral, bringing the transit-oriented office building in downtown Miami to near full occupancy.

The media titan plans to employ about 150 people on the top floor of the 12-story building at 161 NW 6th St. The 95,000-square-foot property, adjacent to the new Brightline commuter train station in Miami, also has ground-floor retail.

“With the addition of Viacom at 3 MiamiCentral, we bring together a group of visionary companies that have global reach into downtown Miami,” M. Bruce Snyder, executive vice president for property owner Florida East Coast Industries, said in a statement.

Viacom currently has 20,000 square feet at 1111 Lincoln Rd. in Miami Beach, according to CoStar data. Viacom’s broker, John Marshall of JLL, did not return a phone call for comment.

Florida East Coast Industries, the parent company of Brightline, also announced a 17,000-square-foot lease for the Confederation of North Central America and Caribbean Association Football (CONCACAF), a soccer governing body.

Other tenants at 3 MiamiCentral include Brightline and Atlantic Pacific Cos.

The building, completed in December, is 95 percent occupied, according to Florida East Coast.

Brokers said they aren’t surprised that leasing is so strong there.

“This is representative of the trend in the office world right now that well-amenitized, mixed-use, transit-oriented projects are getting the bulk of the traction today,” said Stephen Rutchik of Colliers International South Florida. “That generally is what the office tenant wants for their workforce.”

Another building, 2 MiamiCentral – a 10-story, 190,583-square-foot office tower at 700 NW Miamicentral Ave. – is scheduled for completion in June, according to Florida East Coast. Tenants there include Cisneros, Ernst & Young, Spaces and Moss Construction.

The six-block MiamiCentral development also will include a food hall, grocery store and fitness studio.

Paul Owers, South Florida Market Reporter  CoStar Group   
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