A global insurance and reinsurance company, MS Reinsurance, and commercial real estate finance firm Walker & Dunlop are set to open offices in Miami’s Brickell neighborhood. According to a news release from the landlords’ broker, MS Reinsurance has leased 7,700 square feet and Walker & Dunlop has taken 2,900 square feet at the 801 Brickell tower, located at 801 Brickell Avenue.
MS Reinsurance will relocate from its current office at 701 Brickell Avenue during the first quarter of next year. Walker & Dunlop is entering the Miami market for the first time.
The Colliers team representing the building’s owners included Stephen Rutchik. Kevin Gonzalez represented MS Reinsurance. Keith Edelman and Scott Goldstein of CBRE represented Walker & Dunlop.
Monarch Alternative Capital, based in New York, and Tourmaline Capital Partners from Bryn Mawr, Pennsylvania acquired 801 Brickell for $250 million in 2023. Last month, they secured a $229 million refinancing for the property from Goldman Sachs and Wells Fargo. Monarch is led by co-CEOs Michael A. Weinstock and Chris Santana; Tourmaline is led by Brandon Huffman. The ownership group is also developing a 14,800-square-foot office penthouse expected to be completed early next year.
Another global insurer, Howden, based in London, has leased 23,700 square feet at 600 Brickell World Plaza with plans to open an office early next year. The building stands at 600 Brickell Avenue. Jonathan Kingsley and Zach Smith of Colliers represented Howden along with Jodie Poirier of Occupier Services; Ilene Munoz of Elm Spring represented the landlord. Records show that Brickell Holdings owns the tower through ties to Elm Spring.
ADP, a human resources and payroll services provider headquartered in Roseland, New Jersey, will move its Miami-Dade County office to the Waterford Business District near Miami International Airport. ADP has leased 78,300 square feet at 703 Waterford Way and will relocate from its current location at 10200 Southwest 72nd Street in unincorporated Miami-Dade near South Miami. Juan Ruiz and Andres del Corral of Blanca Commercial Real Estate represented the landlords. The Waterford Business District spans more than three million square feet across 250 acres and is owned by Nuveen Real Estate (led by Mike Sales) and Pimco Prime Real Estate (led by François Trausch). Nuveen is based in Chicago while Pimco is part of Allianz Group headquartered in Munich.
Two Florida state departments are moving their Broward County 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 19,000 square feet at Sawgrass Concourse (789 and 799 International Parkway), with both agencies expected to move in 2026. Gordon Messinger of CBRE represented the landlord; MG3 Group owns Sawgrass Concourse.
In downtown West Palm Beach’s CityPlace complex developed by Related Companies in 2000, Hawaiian-inspired footwear brand OluKai opened a new store last week after leasing a space measuring 1,300 square feet. Steve Ross remains nonexecutive chairman and largest shareholder of Related Companies but now leads Related Ross out of West Palm Beach.
Emigrant Bank will open a branch in downtown West Palm Beach after leasing a space measuring 1,800 square feet at The Strand condominium building on Evernia Street; Fabio and Sebastian Faerman of FA Commercial represented Emigrant Bank.
In Pembroke Pines, Destination XL Group launched a DXL Big + Tall store specializing in big-and-tall menswear at 11010 Pines Boulevard; records indicate ownership by entities managed by Cornfeld Group (Hollywood-based) and HB Capital Group (Sunny Isles Beach-based).
