Large Financial Firm Relocating HQ From Doral To Downtown Miami, Signs Office Lease

Downtown Miami is gaining a large new office tenant.

Rialto Management Group announced that it will move its headquarters from Doral. The company signed a lease this month to occupy 46,746 square feet at the Southeast Financial Center.

Rialto has over 200 associates worldwide, according to its website.

Overall, Miami’s office market is strong, according to a 1Q office report by JLL (pdf).

Net office absorption for the Miami area was 230,000 square feet during the quarter, four times what it was in the same period of 2018. Rents were also up nearly 8 percent in the quarter.

 

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Anonymous

Downtown needs much more class A office space. Where are the developers??

Anonymous

Melo should start doing office towers.

Anonymous

Mana owns an entire office building on S. Miami Ave and keeps it completely empty.

Anonymous

perhaps.. but it’s an old ass building and probably needs a major upgrade like all Mana properties.

Anonymous

That building is in complete disrepair. Most of the tenants have vacated due to failing AC and other life/safety issues.

Anonymous

Just utterly false

Anonymous

OKO Group is doing building at 830 Brickell. Will have 490k square feet of office space

https://www.thenextmiami.com/revealed-50-story-tower-at-888-brickell-plaza-where-construction-is-underway/

Anonymous

Liven this news! Doral needs to remember it is a suburb. Keep the density in dwntwn. When Miami is maxed out with transit, offices, etc we can focus on building out Doral, Kendall, etc.

Anonymous

Doral is their own city with their own mayor.

Anonymous

We need Metrorail to Doral and Miami Beach, then downtown will really take off like Chicago with offices relocating (back) downtown.

Anonymous

Doral already has a metro station with city trolley pick ups and county buses at the station

Anonymous

The trolley is a joke. The station is in Hialeah. No one in Doral drives to the Metrorail to get downtown. They drive and park their cars in employer paid parking.

Anonymous

The station is not in Hialeah. It Is on the other side of the Palmetto Expressway in the City of Doral and it has a large parking lot

Anonymous

Are you guys talking about the Palmetto station in Medley around all those warehouses?

Anonymous

Umm….I just re-read that article just to be sure…and the article is about “offices relocating downtown”.
“WE” (whoever we is) do not NEED Metrorail to Doral and Miami Beach.

Anonymous

Hines is building offices.. a 45-story, 600,000-square-foot tower within Miami Worldcenter

Anonymous

Awww man, why do you have to keep up on stuff?.. just let me do the unnecessary whining that I love to do!

Anonymous

When?

Anonymous

Never… this project won’t happen

Anonymous

Large firm with 200 employees worldwide? Please define “large”.

Anonymous

lolz true

Anonymous

Raised $8,000,000,000 in the last decade for their investment funds. (that is enough money to buy everything Moshe Mana and the Melos own combined).
AND they are special servicers of over $100 Billion.

And they are probably one of top 10 largest office tenants in downtown. They are not a mom and pop operation.

Anonymous

I guess they got tired of the Palmetto and the horrendous Doral traffic.
My feelings go deep to all those battling it out there at the foot of the Everglades.
Swamp and the Palmetto vs. Biscayne Bay and Brickell. Gorgeous views
No brainer

peej

Smart decision, SE Financial Center is one of our OG skyline gems! (thanks, SOM)

Anonymous

Hopefully, this is the sign of a trend.

Anonymous

The relocation is a direct result of all the new residential units that’s been built and are under construction plus the ones planned in downtown, the Arts district, midtown, and Wynwood.

Oh.. and don’t forget Brightline/Virgin train station.

Anonymous

Are they hiring?

Anonymous

Yes

Anonymous

not much point living in Brickell or Wynwood if you have to schlep out to some shitty soul crushing boring ass corp office park in Doral in your car.

Anonymous

Doral already has a metro station with city trolley pick ups and county buses at the station

Anonymous

The “Doral” Metrorail station is Hialeah.

Anonymous

No it is not, it’s on the west side of 836 in the city of Doral. I think the green line takes there. The Dolphin Mall trolley used to go there too. The trolley parks right on the train boarding dock

Anonymous

You meaning palmetto metrorail it is in hialeah yes the routes go by Doral with transfer points .