Miami, FL, April 23, 2014 --(PR.com
)-- In the midst of what Ocean Drive magazine has called “Miami’s Brazilian Boom”—a demographic phenomenon that’s helping shape a new condo boom in Downtown Miami and across South Florida—the Consulate General of Brazil is moving into larger office space to accommodate the flood of activity.
The growth is real. Brazilians overtook Canadians as the main international tourists in Miami in 2012, according to the Greater Miami Office of Tourism and Conventions. Of the 1.8 million Brazilians who traveled outside their borders in 2012, 75 percent visited Florida—and 700,000 of them came to Miami.
Cresa South Florida’s team of Steve and Eric Gaunt represented the consulate on its two-year search for new office space to serve the growing number of Brazilians that need to renew passports and Americans requiring visas for travel to Brazil. The Consulate General of Brazil, one of the most important consulates in the world, will relocate from its office space on the 26th floor of 80 SW 8th Street location in Brickell to 24,518 square feet at 3150 Miami Green Way in Coral Gables.
“It takes time to relocate a consulate because of the approvals required from the U.S. State department, Brazil’s foreign missions department, and even legislative approval,” says Steve Gaunt, an advisor at Cresa. “We understood how to navigate this complex process because we worked with the Consulate on its last move. We knew we needed two years of lead time to address all the requirements and find a location that would accommodate growth.”
Beyond the foot traffic, Brazil remained Miami’s top trading partner in 2013 with $16.8 billion in total trade, according to WorldCity. Brazil surpassed Columbia, which ranks second at $9.34 billion. These factors, as well as projected future growth, required the Consulate General of Brazil to entirely rethink its office space.
“The Consulate wanted to move to a ground floor situation because it’s easier to service the public. Administrative offices could be located higher floors,” Eric Gaunt says. “Finding the right office space was like assembling a puzzle. After conducting surveys and exploring various opportunities, it all came down to the Miami Green Building.”
Miami Green is a class A, 13-story, office building that features distinctive architecture with green tinted, hurricane resistant, floor-to-ceiling glass. Miami Green offers covered parking is available adjacent to each office floor. The rooftop offers views of downtown Miami, Coral Gables and Coconut Grove. Miami Green is centrally located within walking distance of the City of Coral Gables and minutes from residential Coral Gables and Coconut Grove.
One hundred yards from the elevated Metro Rail Station, Gables Trolley and Metro Dade Bus Station, US1 and only 15 minutes from Miami International Airport, Miami Green is easily accessible; another major selling point for the consulate, making it highly accessible to its public, via different modes of transportation.
“Working with government entities like the Consulate General of Brazil brings unique challenges. You have to understand the decision-making process and what it takes to get approvals signed,” Steve Gaunt says. “There are also challenges in working through the process with a landlord and its representative. In this instance we were fortunate to have knowledgeable parties on the landlord’s team that made the transaction run smoothly. The Miami Green Building was the ideal solution and will allow the Consulate General of Brazil to keep up with the rapid growth it’s facing in the years to come.”
Cresa is an international corporate real estate advisory firm that exclusively represents tenants and specializes in the delivery of fully integrated real estate services, including: Transaction Management, Project Management, Corporate Solutions, Portfolio Strategies, Location Planning, Lease Administration, Capital Markets, Mission Critical Solutions, and Facilities Services. With more than 58 offices, Cresa is the largest tenant representation firm in North America. For more information, visit www.cresa.com.