Kubicki Draper Leaving Downtown Miami for Dadeland
The law firm will move to Kendall's Datran Center early next year with its downtown building up for sale.
September 27, 2018 at 10:13 AM
3 minute read
Kubicki Draper is moving its Miami office out of downtown in favor of a suburban Kendall location near Dadeland Mall early next year.
The law firm, now in the City National Bank building penthouse at 25 W. Flagler St., has leased 20,511 square feet at Datran I, part of the bigger Datran Center office complex. This is the largest relocation to the Kendall submarket this year, according to broker Cushman & Wakefield.
The law firm didn't return a request for comment by deadline on why it's leaving its location in the block east of the Miami-Dade County Courthouse, but the building is up for sale.
The defense litigation firm has 13 offices, including 11 in Florida. The Daily Business Review's annual Review 100 report listed the firm founded in 1963 as the 19th largest in the state with 97 attorneys.
Cushman & Wakefield, which represented both sides, said the relocation reflects a growing trend in the office market — tenants moving away from the more expensive Central Business District and closer to areas where employees live.
“As rates continue to rise and traffic continues to worsen, tenants are realizing that there are excellent options closer to where their employees live,” managing director Andrew Trench in Miami said in an email. ”Datran offered proximity to employees who live in Pinecrest and Kendall.”
Datran, which is across U.S. 1 from Pinecrest, also offers easy transit connections. The Dadeland South Metrorail station is a short walk away, and the office is less than a mile from the Palmetto Expressway.
Some office market reports say the Kendall submarket has much cheaper Class A office lease rates than downtown Miami.
The Kendall average was $40.56 per square foot in the second quarter, or 24 percent less than the $50.17 per square foot in downtown, according to an Avison Young report.
The landlord at 1900 S. Dadeland Blvd. is IP Capital Partners LLC, a Boca Raton-based real estate investment and asset management company led by founding partners Jason Isaacson and John Procacci. Its focus is on Class A and B commercial properties in South Florida, Orlando, Tampa and Jacksonville.
The 12-story City National building constructed in 1965 is for sale. LoopNet lists it at 166,817 square feet but notes it will be largely vacant by mid-2019 and “primed for redevelopment” with three parcels totaling 29,000 square feet available. Miami 21 zoning would permit an 80-story building with up to 665 residences and 696,000 buildable square feet.
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