A global insurance and reinsurance company, MS Reinsurance, along with commercial real estate finance and advisory firm Walker & Dunlop, will open offices in Miami’s Brickell neighborhood. MS Reinsurance has leased 7,700 square feet and plans to relocate from its current office at 701 Brickell Avenue to the 801 Brickell tower in the first quarter of next year. Walker & Dunlop, which is new to the Miami market, has leased 2,900 square feet at the same location.
The leasing transactions were facilitated by several brokers: Stephen Rutchik from Colliers represented the building owners; Kevin Gonzalez acted for MS Reinsurance; and Keith Edelman and Scott Goldstein of CBRE represented Walker & Dunlop.
Ownership of the 26-story 801 Brickell building changed hands in 2023 when Monarch Alternative Capital from New York and Tourmaline Capital Partners from Bryn Mawr, Pennsylvania acquired it for $250 million. Last month, these owners secured a $229 million refinancing package for the property from Goldman Sachs and Wells Fargo. Monarch is led by co-CEOs Michael A. Weinstock and Chris Santana, while Brandon Huffman leads Tourmaline Capital Partners. The ownership group is also developing a 14,800-square-foot office penthouse expected to be completed early next year.
Another international insurer is entering the Miami market. London-based Howden has signed a lease for 23,700 square feet at 600 Brickell World Plaza with plans to open an office early next year. The leasing process involved Jonathan Kingsley and Zach Smith from Colliers representing Howden alongside Jodie Poirier of Occupier Services; Ilene Munoz of Elm Spring represented the landlord. Records indicate that Brickell Holdings owns the tower through ties with Elm Spring.
ADP, a provider of human resources and payroll services headquartered in Roseland, New Jersey, will move its Miami-Dade County office to the Waterford Business District near Miami International Airport. ADP leased 78,300 square feet at 703 Waterford Way and will relocate from its current site at 10200 Southwest 72nd Street near South Miami. Blanca Commercial Real Estate’s Juan Ruiz and Andres del Corral represented the landlords in this transaction.
The Waterford Business District spans over 250 acres at Northwest 65th Avenue and Northwest Seventh Street with more than three million square feet of offices. It is owned by Nuveen Real Estate (based in Chicago) under Mike Sales’ leadership and Pimco Prime Real Estate (part of Allianz Group based in Munich), led by François Trausch.
In Broward County, two Florida state agencies are relocating their offices to Sawgrass International Corporate Park in Sunrise. The Department of Financial Services has leased 21,000 square feet while the Department of Revenue has taken up a separate lease for 19,000 square feet within Sawgrass Concourse at 789 and 799 International Parkway; both moves are expected in 2026. Gordon Messinger of CBRE represented landlord MG3 Group—led by Marcelo Saiegh, Hernan Leonoff, and Gustavo Bogomolni—in these deals.
Meanwhile in downtown West Palm Beach’s CityPlace complex developed by Related Companies (now led locally as Related Ross), footwear brand OluKai opened a new store after leasing 1,300 square feet last week.
Emigrant Bank is set to open a branch downtown after leasing space at The Strand condominium on Evernia Street; Fabio and Sebastian Faerman of FA Commercial brokered this deal.
In Pembroke Pines, Destination XL Group opened a DXL Big + Tall menswear store at Pines Boulevard; ownership records list Cornfeld Group (Hollywood-based) and HB Capital Group (Sunny Isles Beach-based) as building owners.
