The continued growth of Florida law firm Lydecker is resulting in positive absorption for Miami’s class A office market, with the firm expanding into a 23,000 square foot space at the 1221 Brickell Avenue office tower. The newly-completed transaction, one of the largest signed in the Downtown Miami/Brickell submarket so far this year, adds roughly 5,000 square feet of space to the law firm’s Miamiheadquarters. Financial terms of the agreement were not disclosed.
The relocation from the 1201 Brickell Avenue Tower reflects Lydecker’s dramatic growth over the past three years, a period that has seen the firm expand its number of attorneys from 40 to more than 60 over the past three years, a 50 percent increase.
“At a time when many law firms locally and nationwide are contracting in size, Lydecker has experienced steady, strategic growth by focusing on core practices that serve the needs of Miami’s diverse business base,” said Richard Lydecker, founding partner of Lydecker. “Lydecker’ move to 1221 Brickell Avenue enables the firm to add additional attorneys and further broaden our expertise as one of the premier commercial litigation, corporate and transactional firms in the region, ensuring continued growth alongside Miami’s corporate sector.”
Ryan Grindler of Terranova, Inc. represented Lydecker, while Scott Strickland of Jones Lang LaSalle represented Equity Office Properties Trust and UK-based PRUPRIM, the owners of 1221 Brickell Avenue.
“Lydecker has called Downtown Miami home for more than a decade, so we’re very familiar with the tremendous business opportunities that the burgeoning urban core has to offer,” said Manny Diaz, Senior Partner with Lydecker. “With more and more companies from South Florida, Latin America and Europe looking to expand their presence in Miami, we’re enthusiastic that Brickell Avenue’s standing as a financial hub for the Americas will grow stronger, with Lydecker’s core practices positioned at the center of that growth.”