UBS Financial renews lease at downtown Miami tower
UBS Financial Services has renewed its lease at a landmark downtown Miami office tower.
The company will pay $7.5 million over five years for about 35,000 square feet in the Bank of America Tower at International Place, 100 SE Second St.
The financial services giant has been a tenant in the 600,000 square-foot tower since 1994, said Tony Puente, the real estate agent for the landlord.
Puente said it was the largest lease renewal in downtown Miami so far this year. He said the deal brings the tower’s occupancy rate to 92 percent despite a struggling commercial real estate market.
Puente, senior vice president of Fairchild Partners, represented landlord Wealth Capital Management. Colleen B. Newcomer, president of CBN Commercial Real Estate Services, represented UBS.
The 47-story tower, known for its lights that change color throughout the year, was designed by architect I.M. Pei and opened in 1987.
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