Companies From Outside The Area Are Now Looking To Lease 1.1 Million Square Feet Of Office Space In Miami

Interest in Miami’s office space has reached a new record high, a broker says.

Danet Linares, vice chairman of Blanca Commercial Real Estate, told the WSJ that companies from outside the Miami-Dade area now looking to lease a total of 1.1 million square feet of office space in the county.

That is more than at any other time in Miami’s history, she said.

According to Linares, more than half of the new companies planning to move to Miami are financial services firms.

Another third of the companies are technology, advertising, media and information sector.

Just how much is 1.1 million square feet?

Brightline’s 1,000-foot supertall office tower planned at MiamiCentral is planned to include 800,000 square feet of office space and 50,000 square feet of retail.

One Brickell City Centre, a 1,049-foot tall supertower planned by Swire Properties, is likely to include even less than that since some space will be built as residential and hotel, although plans haven’t been finalized.

Swire recently sold the only two office buildings at the complex with a combined 260,000 square feet at 100% occupancy, and the developer’s CEO has said he regretted not building more office. Proceeds from the sale will be recycled to support future growth, the company told investors in August 2020.

The biggest office building currently under construction in Miami is 830 Brickell, with 613,000 square feet of office.

 

One Brickell City Centre preliminary renderings:

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Anonymous
3 months ago

Cool. The County and City are ready to help people travel to/from with a world class transit system, right?

Anonymous
3 months ago

Metromover north is coming!

Anonymous
3 months ago

Truly a world class transit system that puts the Shinkansen to shame!

Azarius
3 months ago

Build more office buildings ‼️

Anonymous
3 months ago

Swire should have had BCC house a lot more office

POLO
3 months ago

Good news for 830 Brickell!

Anonymous
3 months ago

absolutely, I bet the developer wishes it were twice the size because demand for office space is going to be absolutely tremendous in the coming years!

Freedumbs
3 months ago

no it’s not

Anonymous
3 months ago

Good thing we have such a great public transportation system and great public schools.

Anonymous
3 months ago

Good thing most people drive their own cars. Especially during a pandemic.

Plenty of people are kidless these days, esp. higher income earners, and the high income peeps will send the kiddies to private school or charter schools so there’s that.

Anonymous
3 months ago

Wow
Doral and Miramar must be expected to soar.

Anonymous
3 months ago

Right on, keep drinking the drinking the Kool-Aid! This from a landlord side broker with what, 9,000,000 ft.² of South Florida inventory? No bias there… The fact is, this pandemic is a direct bull’s-eye on the use of and demand for office space. It’s going down, way down, and come this summer, when few of these “out of market” supposedly locations have fizzled, we will see the results in terms of significantly diminished rental rates.
These landlord side brokers will absolutely do anything to work to protect the value of their client’s assets which are diminishing quickly. Like when local asset manager told me in April “this will all be a bad memory by Labor Day”… I don’t think so.

Anonymous
3 months ago

Is the Innovation District happening?

Anonymous
3 months ago

I love TNM it makes me feel nice. 😉 send more news posts TNM daddy

Anonymous
3 months ago

Miami winning!

Anonymous
3 months ago

Austin is the real winner
Most companies from California are moving there.
Nothing like that happening here.

Shawn Kouri
3 months ago

Swire was supposed to break ground on that 80 story tower years ago. They wanted to do that after they sell out some condos just so that they can build the tower. Here we are in 2021 and they still haven’t broken ground. Somebody better send them an email and tell them they must break ground within a year and have all plans finalized now.

Anonymous
3 months ago

“Somebody better send them an email and tell them they must break ground within a year and have all plans finalized now.”

I hope that during all this time, that proposed tower by Swire was redesigned.

Anonymous
3 months ago

Swire is a Hong Kong company. Thank A*****e China for it not happening, among a few other things.