Just one week after Microsoft announced that it would be taking 50,000 SF at 830 Brickell, CI Financial Corp., a leading Canadian asset and wealth management firm, has announced that they will open their new U.S. headquarters at the Class A-plus office tower which is under construction in the heart of Miami’s Brickell Financial District. CI Financial’s full-floor, +/-20,000 SF office will solidify 830 Brickell as the new address of choice for financial, professional services, and technology firms establishing and growing their presence in South Florida. The 55-story tower, a joint venture between OKO Group and Cain International, is scheduled for completion in 2022.
“Miami is an incredible place to establish our U.S. headquarters and support our fast-growing U.S. business,” stated Kurt MacAlpine, Chief Executive Officer of CI Financial. “It serves as the next logical step for our expansion plans as we work to build the leading wealth management platform in the country. In addition, Miami is a vibrant, multicultural city that offers a deep talent pool, an attractive location for recruiting and a very business-friendly environment. Locating at 830 Brickell puts CI at the heart of this dynamic city and its growing financial community.”
CI Financial becomes the second major financial tenant to lease space at 830 Brickell in the last few months, joining private equity firm Thoma Bravo, which recently announced plans for a 36,500 SF office in the tower. Last week, technology giant Microsoft announced plans to occupy 50,000 SF in the tower. 830 Brickell’s ownership was represented by the Cushman & Wakefield team of Brian Gale, Ryan Holtzman and Andrew Trench. CI Financial was represented by Donna Abood and Mark Robbins of Avison Young.
“We are thrilled by CI Financial’s decision to make 830 Brickell the home of its U.S. headquarters. This move demonstrates the firm’s commitment to Miami and underscores the city’s rise as a hub for global and domestic businesses. Attracting a group like CI Financial is precisely what we envisioned when we decided to develop this best-in-class office tower in the Brickell Financial District,” said Jonathan Goldstein, CEO of Cain International.
“830 Brickell has become a natural fit for new-to-market finance firms establishing a presence in Miami,” said Ryan Holtzman of Cushman & Wakefield. “Offering tenants market-leading amenities, a walkable location in the heart of the Brickell Financial District, and access to several transit options and countless shops, restaurants and residences nearby, 830 Brickell is in a league of its own – the first trophy office tower to be developed in Miami’s urban core in more than a decade, and South Florida’s only building capable of accommodating tenants in the market for core Class A-plus space.”
A 2021 analysis of Downtown Miami’s finance sector surveyed the district’s emergence as a hub for asset managers and investment advisors. A report by the Miami Downtown Development Authority (DDA) and Convergence found that the number of S.E.C.-Registered Investment Advisors (RIAs) in Downtown Miami grew from 82 in 2018 to 111 through year-end 2020, a 35% net increase. Total Reported Assets Under Management in the district more than doubled from $75 billion in 2018 to $152.4 billion during the same period.
“The steady flow of financial firms into Downtown Miami is strengthening our position as Wall Street of the South, creating job opportunities for locals, bringing new life to our city streets, and supporting existing businesses in our community,” said Miami DDA Chairman and City Commissioner Manolo Reyes. “The arrival of CI Financial reflects the Miami DDA’s ongoing pursuit of finance and technology firms across the U.S. and abroad. Each day, companies from New York, Chicago, Connecticut, California and around the world are moving or expanding to Miami and growing their businesses, hiring talent, and offering their employees an improved lifestyle along with cost savings.”
The growth of Downtown Miami has been fueled an influx of businesses, investors and people. The list of recent businesses that have expanded into Downtown Miami includes Blackstone, Pipe, Point72, Moore Capital, Founders Fund, ShiftPixy, and BlockTower Capital. Greater Downtown Miami’s residential population now stands at 115,000, a 65% increase since 2010. The district is home to a daily population of more 250,000 people and attracts nearly six million visitors annually. This activity is opening the door to new entertainment, shopping and dining options, including restaurants, retailers, cinemas, grocery stores, museums and performing arts venues.
830 Brickell was designed by renowned architecture firm Adrian Smith + Gordon Gill, with interiors by Italian architecture and design company Iosa Ghini Associati. Together with OKO Group and Cain International, the designers have anticipated how the COVID-19 pandemic will reshape the future of business by incorporating new features into the plans, including ultraviolet lighting in air filtration systems, touchless technologies, world-class health and wellness center, a rooftop bar and first-class restaurant, and more.
The tower’s amenities include a rooftop restaurant and lounge with expansive views of the City and Biscayne Bay, a world-class health and wellness center, a conference facility, an outdoor terrace, cafeìs and street-level retail. Multiple transit options are nearby, including Metrorail and Metromover, the Brightline, walking paths, cycling lanes and bay access points. Additionally, some of Miami’s top residential and lifestyle-driven neighborhoods are situated just minutes away, such as Miami’s Design District, Wynwood, Edgewater and Miami Beach.
