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.