- Billionaire Ken Griffin’s firm Citadel expanded its office space to eight floors at Miami’s newest office tower.
- 830 Brickell, developed by OKO Group and Cain International, is the first ‘top-tier’ office building in Miami in a decade.
- Citadel expects to have 450 employees in Miami by the end of summer and plans to build a new $1B HQ tower in the city.
Billionaire Ken Griffin is expanding Citadel’s footprint in Miami’s Brickell Financial District by leasing two more floors at 830 Brickell. The expansion brings Citadel’s total office space in the building to eight floors, as reported by CoStar.
Doubling Down
Citadel and Citadel Securities are securing more space at the 55-story tower developed by OKO Group and Cain International, although they initially planned for just six floors.
The office tower is widely known as the first ‘top-tier’ office building in Miami in about a decade. Its reputation has clearly preceded it, attracting many high-profile tenants, including Microsoft (MSFT), PE firm Thoma Bravo, law firm Baker McKenzie, and Banco Santander (SAN).
Some Background
Despite some delays in 2022, 830 Brickell continues to draw significant interest. Citadel’s decision to expand came after Chicago law firm Winston & Strawn vacated their offices, and Kirkland & Ellis moved to higher floors in the tower.
Until their new space is ready, Citadel has been operating out of the Southeast Financial Center in downtown Miami. By the end of summer, they plan to relocate 450 employees to 830 Brickell.
Features and Amenities
When completed, 830 Brickell will offer 640KSF of office space, designed by Chicago’s Adrian Smith + Gordon Gill. The tower features numerous amenities, including:
- Rooftop bar and lounge
- Fine-dining restaurant
- Wellness center with yoga and fitness facilities
- Sky lobby with lounge space and work areas
- Outdoor terrace
- 24-hour concierge service
According to CoStar data, the tower commands rents over $100PSF, significantly higher than the typical $80PSF for office space in Brickell.
Future Plans
Griffin’s commitment to Miami extends beyond office space. After relocating Citadel to Miami in 2022, he cited Chicago’s violent crime and Florida’s pro-business environment as key factors behind his decision.
The billionaire hedge fund founder is already planning a $1B HQ tower in Miami and has been acquiring more land in Brickell, including one of the last remaining waterfront parcels.
Griffin has also made substantial philanthropic contributions to the city, donating millions to schools, hospitals, and various projects. He has praised Miami as “the future of America” and suggested it could one day rival NYC as “Wall Street South.”
