Todd Boehley’s investment firm Eldridge Industries is expanding its Miami footprint, taking space at a trophy tower in the Brickell financial 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-fueled boom, with companies such as Ken Griffin’s Citadel, Microsoft Corp. and Thoma Bravo taking space there. Billionaire tech investor 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.
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.
Miami has lured wealthy business owners and finance professionals from cities like Chicago, San Francisco and New York in the past five years who have been drawn by its low-tax environment and attractive lifestyle.
Representatives for Cain and Eldridge couldn’t immediately be reached for comment on the lease.
Read more: Griffin Supercharges His Miami Bet After Mamdani Tax Fight
The tower, which opened in 2024, is the newest corporate building to open in the area though Citadel and Banco Santander SA — which also leases space there — are both kicking off construction of their own projects with completion dates expected by 2030.