TOM BRADY FAMILY’S OFFICE SIGNS LEASE AT BOUTIQUE MIAMI BUILDING WHERE WELLNESS IS KEY
MEDIA CONTACT:
Daniella Aragon-Andre
Levy Public Relations
Tom Brady, former NFL star and seven-time Super Bowl champion, is moving one of his businesses to a Miami office building where holistic wellness is key.
Tom Brady Enterprises, the football star’s family office, signed a lease for 8,415 square feet of office space at The Well Bay Harbor Islands, a mixed-use project under development about a mile away from Brady’s mansion in Indian Creek Village, a 300-acre island known as Billionaire Bunker.
The office’s location at 1177 Kane Concourse near Brady’s residence in Indian Creek Village “played a pivotal role in its selection as the new headquarters for Tom Brady Enterprises,” said Terra Group, the locally based developer of The Well Bay Harbor Islands, in a statement.
The 113,000-square-foot building is expected to be completed next year and includes four floors of offices, retail space and a rooftop with outdoor meeting areas and fitness classes with views of Biscayne Bay. The project also includes an eight-story luxury condominium building with 66 units, more than 22,000 square feet of amenities, including a state-of-the-art fitness and wellness center, and a restaurant serving sustainable, organic and clean-eating options.
The project is the first branded office and condos from The Well, a health and wellness brand. The project initially had planned to develop 54 condo units but that number has increased because of buyer demand. Units start at $1.2 million.
Terms of Tom Brady Enterprises’ lease were not disclosed but Bloomberg reported the company is paying $125 per square foot, almost double the average for top-tier office space in the Miami area.
Brady’s Move
The move is the latest from Brady since retiring in 2022, who has spent the subsequent years building out his new mansion on Billionaire Bunker where his neighbors include Jeff Bezos, Jared and Ivanka Trump, Carl Icahn and around 80 or so other well-to-do residents. Tom Brady Enterprises manages all assets of Brady’s businesses, including a number of different sports and wellness-related brands, as well as a production company.
The deal reinforces the recent surge in demand for top-tier office space in South Florida as the region continues to be a sought-after hub for businesses, according to the statement. Now individuals like Brady are gravitating toward office locations near their upscale residences, mirroring the latest trends in business migration to the area, Terra Group said in the statement.
“South Florida has consistently surpassed the national average in office space demand. This trend is further fueled by the influx of high-net-worth individuals relocating to the region for work,” said Tere Blanca, CEO of Blanca Commercial Real Estate who represented Terra Group in the lease, in the statement.
Tom Brady Enterprises’ lease is the latest example as leaders look for both convenience and “holistic wellness solutions within their work environment,” she added.
Boutique offices in Miami-area submarkets like Bay Harbor Islands, an island community about 8 miles north of downtown Miami, alongside Aventura and Wynwood have become a landing pad for a variety of new-to-market tenants who are looking for top-tier space, according to Blanca Commercial Real Estate. Those submarkets have provided a “relief valve” even as availability for trophy assets in the city’s core office markets — Brickell, Coconut Grove and Miami Beach — remain exceedingly tight.
With the lease from Tom Brady Enterprises, The Well Bay Harbor Islands is 35% preleased, according to the statement. Dwight Capital, a commercial real estate financial firm with a $12 billion portfolio, signed a 23,429-square-foot lease earlier this year for its headquarters at the office building.
For the Record
The lease was arranged by Blanca Commercial Real Estate’s Tere Blanca, Danet Linares and Nicole Kaiser on behalf of Terra Group. Tom Brady Enterprises was represented by Colliers’ Stephen Rutchick and Kevin Gonzalez, alongside Current Real Estate Advisors’ Brandon Charnas.
