Merrill Lynch

Florida Account

Cresa Miami

 

Client Objectives

Merrill Lynch hired Cresa to provide advisory services throughout the State of Florida for over 83 private client offices, including Merrill Lynch International located on Brickell Avenue in Miami (60,000 SF) and Merrill Lynch’s regional operations center located in Jacksonville, Florida (two million SF). The assignment encompassed all real estate transactions including buyouts, early renewals, expansions, renewals, contractions, subleases, relocations, build-to-suits, sale of owned property, and purchase or sale of land. Cresa typically surveys the individual markets three years prior to the transaction and continues the market analysis and negotiation until a transaction is consummated.

Result

Cresa has completed more than 160 transactions over a period of 23 years of representing Merrill Lynch. In the recent Coral Gables transaction, Cresa negotiated the transaction down by more than 40% from its original asking rental rate, still achieving signature signage, exclusivity, and the penthouse location. On Brickell Avenue, Cresa negotiated a favorable renewal and saved the client over two million dollars.

Additional Assignments

Presently, Cresa is involved with over 5 transactions for Merrill Lynch throughout Florida.