In order to continue to serve the Latin American market, Sony Music has renewed and expanded their Miami office space at Mayfair in the Grove. The transaction, negotiated by the leading commercial real estate services firm specializing purely in tenant representation, Savills Studley, renews the existing lease of 20,800 square feet and expands the space by approximately 6,500 square feet for an 8-year term.
Savills Studley Senior Vice President and Branch Manager Robert Orban and Associate Tyler Wyant represented Sony Music, while Chris Dekker from JLL represented the landlord, Whalou Properties.
Orban noted that the negotiations with the landlord produced positive outcomes for Sony. “By leveraging the strength of the Sony brand we were able to restructure the economics of the existing lease obligation, while garnering a generous improvement allowance for the entire expanded premises,” Orban said.
Senior Director of Real Estate Management Jon Peragine from Sony said, “As Sony continues to grow and add headcount it was important that the company have the opportunity to reinvest in the employee’s workspace and this agreement allows us to do so.”
Mayfair in the Grove provides Sony employees an excellent live work environment, replete with nearby amenities. The development is within walking distance to over 200 retail, dining and entertainment options in the desirable Coconut Grove neighborhood.