East End Capital has completed $10 million in renovations to 100 Biscayne, a 30-story office tower in downtown Miami.
The New York-based developer acquired the 310,000-square-foot office building at 100 Biscayne Blvd. for $84 million in 2016. It rebranded it from New World Tower to 100 Biscayne and soon started renovations to improve the building, which was constructed in 1963.
The renovations, which took over a year, are now complete. The building has a new streetscape facade, enhanced corridors and amenity spaces – including two conference rooms, a fitness center and yoga studio – window tinting replacement, and a 35-foot LED digital wall. East End also improved the technology aspects of the building, with better fiber connectivity and a parking service application that notifies tenants via text message when their cars have been retrieved from the garage.
The streetscape facade, exterior improvements and main lobby were designed by Zyscovich Architects, which is also a tenant. MKDA worked on the interior design of the corridors and several move-in-ready suites. Obscura crafted the art in the lobby.
Amicon Construction was the general contractor for much of the work.
“Tenants are looking for greater efficiency, increased communal common areas, more amenitized and technology-infused work spaces,” said Jonathon Yormak, founder and managing principal of East End Capital. “The upgrades completed across 100 Biscayne further enhance its central location and make it an optimal office building to meet the creative and technology markets’ growing desires and demands.”
East End Capital said about 40,000 square feet are available for lease in the building. That means its vacancy rate is about 12.9 percent.
According to the third quarter report by Colliers International South Florida, the office vacancy rate in downtown Miami was 16.9 percent, and there was positive absorption of 76,700 square feet during that quarter. The average asking rent was $45.62 a square foot.