Todd Boehley’s Eldridge Industries is expanding its Miami footprint, taking space at a trophy tower in the central business district that charges some of the city’s highest office rents.
The firm will lease 8,000 square feet (740 square meters) at 830 Brickell, according to a person familiar with the matter who asked not to be identified because the deal is private.
The 55-story building was co-developed by Cain, an investment manager backed by Eldridge. The company will leave its current space in Miami, located just a few blocks away, the person said.
The Brickell tower has become a symbol of Miami’s pandemic boom, with companies such as Citadel, Microsoft Corp. and Thoma Bravo taking space there. Peter Thiel’s family office signed a lease at the building earlier this month for about $250 a square foot, breaking the Miami rent record.
Representatives for Cain and Eldridge couldn’t immediately be reached for comment on the lease.
Boehly, whose net worth is $8.5 billion, according to the Bloomberg Billionaires Index, founded Eldridge and is a prominent sports team investor. He’s chairman and co-owner of Chelsea Football Club and has stakes in the Los Angeles Dodgers and Los Angeles Lakers.