Lease roundup: Walker & Dunlop and two insurance firms opening offices in Brickell

MS Reinsurance, Walker & Dunlop | Miami

A global insurance and reinsurance company, and a commercial real estate finance and advisory firm will open offices in Miami’s Brickell.

MS Reinsurance leased 7,700 square feet, and Walker & Dunlop leased 2,900 square feet at the 801 Brickell tower, according to a news release from the landlords’ broker. The 26-story building is at 801 Brickell Avenue.

MS Reinsurance will move from its office at 701 Brickell Avenue in the first quarter of next year.

Walker & Dunlop is a new-to-market tenant in Miami.

Stephen Rutchik was part of the Colliers team that represented the building’s owners. Kevin Gonzalez represented MS Reinsurance. Keith Edelman and Scott Goldstein of CBRE represented Walker & Dunlop.

New York-based Monarch Alternative Capital and Bryn Mawr, Pennsylvania-based Tourmaline Capital Partners paid $250 million for 801 Brickell in 2023. Last month, they secured a $229 million refinancing for the tower 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 pair also are building out a 14,800-square-foot office penthouse, which will be completed early next year, the release says.

Howden | Miami

A global insurer will open an office in Miami’s Brickell.

London-based Howden leased 23,700 square feet at 600 Brickell World Plaza, with plans to open its office early next year, according to a news release from the tenant’s broker. The 40-story tower is at 600 Brickell Avenue.

Jonathan Kingsley and Zach Smith were part of the Colliers team that represented the tenant. Jodie Poirier of Occupier Services also represented the tenant. Ilene Munoz of Elm Spring represented the landlord.

Brickell Holdings, which ties to Elm Spring, owns the tower, according to records.

ADP | Miami-Dade County

Human resources and payroll services provider ADP will move its Miami-Dade County office to the Waterford Business District.

Roseland, New Jersey-based ADP leased 78,300 square feet at 703 Waterford Way in unincorporated Miami-Dade, near Miami International Airport, according to a news release from the landlords’ broker. ADP is expected to move from its current space at 10200 Southwest 72nd Street in unincorporated Miami-Dade, near South Miami.

Juan Ruiz and Andres del Corral were part of the Blanca Commercial Real Estate team that represented the landlords.

Nuveen Real Estate, led by Mike Sales, and Pimco Prime Real Estate, led by François Trausch, own the 250-acre Waterford Business District at Northwest 65th Avenue and Northwest Seventh Street. It has more than 3 million square feet of offices.

Nuveen is based in Chicago. Pimco is part of Munich-based global financial services firm Allianz Group.

Florida revenue, financial service departments | Sunrise

Two Florida departments will move their Broward County offices to the Sawgrass International Corporate Park in Sunrise.

The Florida Department of Financial Services leased 21,000 square feet, and the Florida Department of Revenue leased 19,000 square feet at the two-building Sawgrass Concourse within the corporate park, according to a news release from the landlord’s broker. The state agencies are expected to move in 2026.

Sawgrass Concourse is at 789 and 799 International Parkway.

Gordon Messinger of CBRE represented the landlord.

Aventura-based MG3 Group owns Sawgrass Concourse. The firm is led by Marcelo Saiegh, Hernan Leonoff and Gustavo Bogomolni.

The department of revenue currently has a Fort Lauderdale office, and the financial services department has a Plantation office.

OluKai | West Palm Beach

A Hawaiian-inspired footwear brand opened at Steve Ross’ mixed-use CityPlace complex in downtown West Palm Beach.

OluKai leased 1,300 square feet at CityPlace, opening last week, according to the tenant’s news release.

Ross, an 85-year-old billionaire who founded New York-based Related Companies more than 50 years ago, stepped back from the firm last year to launch West Palm-based Related Ross. The firm dominates downtown West Palm where it has eight office buildings, including those purchased, developed, under construction and planned, as well as condominium and multifamily projects.

Related Companies completed CityPlace in 2000. Ross remains Related Companies’ nonexecutive chairman and largest single shareholder.

Emigrant Bank | West Palm Beach

A bank will open a branch in downtown West Palm Beach.

Emigrant Bank leased 1,800 square feet at The Strand condominium building at 277 Evernia Street, according to the tenant’s broker.

Fabio and Sebastian Faerman of FA Commercial represented the tenant.

Destination XL Group | Pembroke Pines

A retailer that specializes in big and tall menswear opened a store in Pembroke Pines.

Destination XL Group opened a DXL Big + Tall at 11010 Pines Boulevard, according to the tenant’s news release. The square footage leased wasn’t provided.

Records show an entity managed by Hollywood-based Cornfeld Group and Sunny Isles Beach-based HB Capital Group owns the building.

Lease roundup: Padel courts on tap in Palm Beach County; tech, music take space in Wynwood