MIAMI—The SunTrust building is getting a $9 million makeover. But that doesn’t mean it’s not still wooing tenants before its facelift in a hot Downtown Miami market.

Jon Blunk, senior director of Cushman & Wakefield Commercial Brokerage Services, along with broker Cristina Glaria, recently completed two commercial real estate leases at the building: 15,102 square feet to the Daily Business Review and a 5,337-square-foot lease and expansion to Bast Amron. The SunTrust building is about 85% leased with tenants including: Akerman Senterfit, Marcum, and SunTrust. Crocker Parnters owns the building.

“Crocker Partners investment in renovation of the building is to address the demand of the area,” Blunk tells GlobeSt.com. “New towers are almost filled to capacity, and existing tenants are renewing and expanding their spaces. Crocker sees the renovation as investment in the present and future use of the building, especially in order to support current tenants future expansion needs.”

As Blunk sees it, these renewal leases just as SunTrust prepares for a $9 million renovation is a positive trend for the Downtown Miami area. Indeed, Downtown Miami’s commercial district is thriving. He also points to the accelerated absorption of retail, condo, and office space that has exceeded industry and analyst expectations as Downtown Miami continues the up-trend.

“Downtown is a location that has morphed into a true center, with retail, living, and office spaces, in combination with an expanding port,” Blunk says. “Demand is high, and Crocker is ready to meet that demand in all of its downtown buildings.”

Colliers International’s Donna Abood represented the Daily Business Review. Jones Lange LaSalle’s Grant Killingsworth represented Bast Amron.