One Brickell City Centre
By dcgwsllc
November 10, 2022
One Brickell City Centre was a planned 68-story office tower at 700 Brickell Avenue and 799 Brickell Plaza, envisioned by Swire Properties and Related Companies as the tallest commercial tower in the Southeast. Designed by Arquitectonica with roughly 1.5 million square feet of Class A office space, 40,000–60,000-square-foot floor plates, and a height approaching 1,040 feet, One Brickell City Centre was scrapped in January 2025 after pre-leasing failed to materialize. Swire sold the 2.8-acre site to Melo Group for $211.5 million in May 2025, ending the supertall’s run as Brickell’s most ambitious office proposal.
The tower was meant to anchor the next phase of Swire’s Brickell City Centre, the 2.5-million-square-foot mixed-use complex of luxury retail, residences, offices, and hotel that reshaped Brickell when it opened. The plan promised high ceilings, panoramic Biscayne Bay views, rooftop terraces, a helipad, and wellness-driven flexible workspaces aimed at financial institutions, global tech firms, and multinationals. Instead it became the clearest illustration of Miami’s post-boom office financing bind: lenders demand heavy pre-leasing, and tenants hesitate to commit before construction starts.
One Brickell City Centre Frequently Asked Questions
Why was the project cancelled?
Weak pre-leasing at One Brickell City Centre. Swire Properties president Henry Bott called the office market “challenging” and said leasing “had not materialized in the way that we had hoped.” Swire’s partnership with Related Companies on the tower expired, and without an anchor tenant, construction financing never came together. CBRE was hired to sell the site in January 2025.
Who owns the site now, and what will be built there?
Melo Group bought the One Brickell City Centre site, the 2.83-acre parcel, for $211.5 million in an all-cash deal in May 2025 (CBRE’s Robert Given and Troy Ballard brokered it). The Melos, who have developed more than 8,000 residential units across Greater Downtown Miami, have not disclosed specific plans. Proceeds fund Swire’s Residences at Mandarin Oriental on nearby Brickell Key.
What would tenants have gotten if it had been built?
One Brickell City Centre would have delivered about 1.5 million square feet of Class A office across 68 stories at nearly 1,000 feet, among the largest floor plates in Miami at 40,000–60,000 square feet, with Biscayne Bay views, rooftop terraces, a helipad, and wellness-focused design, as a direct extension of the Brickell City Centre complex.
Where did prospective tenants go instead?
Much of the demand landed at
830 Brickell, which leased during construction and set a $250-a-foot county record. Citadel is planning a 1.7-million-square-foot headquarters on Brickell Bay Drive and Santander broke ground on a 50-story tower at 1401 Brickell Avenue, both owner-user projects that sidestep the pre-leasing trap.
What does the cancellation mean for Brickell office supply?
The One Brickell City Centre cancellation underscores how hard speculative office has become: Brickell’s Class A direct vacancy stood at 11.8% in mid-2026 with average asking rents around $93 per square foot (Colliers), yet lenders still require substantial pre-leasing before funding big towers. New institutional-scale supply now comes mostly from owner-users like Citadel and Santander.
Is there any office space available connected to this project?
Key Facts: One Brickell City Centre
- Address: 700 Brickell Avenue / 799 Brickell Plaza, Miami, FL
- Submarket: Brickell financial district
- Developer: Swire Properties (+ Related Companies; partnership expired)
- Architect: Arquitectonica
- Scale (planned): ~1.5M sq ft; 68 stories; ~1,040 ft; 40,000–60,000 sq ft floor plates
- Status: Cancelled January 2025, never built
- Site: 2.8 acres sold to Melo Group for $211.5M (May 2025); plans undisclosed
- Class: N/A, cancelled project, not leasable office
Why the Supertall Stalled
One Brickell City Centre arrived at the wrong moment in the cycle: announced in 2022 at the peak of the finance-migration wave, it needed an anchor tenant to unlock construction financing just as tenants grew cautious about committing to unbuilt towers. Swire’s pivot is telling, the Hong Kong developer redirected the $211.5 million in proceeds to the Residences at Mandarin Oriental, a branded condo-and-hotel project on Brickell Key with more than $1 billion in presales. Residential presales fund themselves; speculative office does not.
Brickell’s Office Market Without It
The district didn’t miss a beat. Brickell City Centre continues to anchor the neighborhood’s retail and office mix, the Underline linear park reshaped the transit corridor, and Panther Coffee – Brickell still fuels the dealmakers. With 830 Brickell effectively full and Citadel’s and Santander’s towers advancing as owner-user builds, Brickell’s next decade of office growth will look very different from the speculative supertall era this project represented.
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