Microsoft is among the tenants that are in negotiations to lease office space in Miami, according to Business Insider.
The company is in advanced negotiations to lease 30,000 square feet at 830 Brickell, the 56-story office building under construction across from Brickell City Centre.
830 Brickell is asking some of the highest lease prices ever in Miami for office space, in the upper $70s per square foot.
Brokers for the building say they currently have 12 full floor proposals to lease space.
Miami’s office market is now seeing an unprecedented surge in demand as a result of the pandemic, and brokers say that they are seeing the highest level of activity in their careers, the website reported. Tenants are also paying record high prices for space.
Citadel, one of the world’s largest hedge funds, is said to be shopping for 80,000 square feet in Miami, and has placed 830 Brickell on its shortlist.
Chicago law firm Baker McKenzie is also said to be in negotiations to lease space at 830 Brickell.
The competition for prime Miami office space has grown “fierce” and is expected to drive new construction, brokers say.
Developer Related Group is among those looking to cash in, and is offering multiple downtown Miami development properties to office tenants.
Hines is also now marketing its 600,000 square foot One Worldcenter project in an effort to land an anchor tenant and break ground on the project.
One financial firm was said to have looked at signing a deal for 30,000 square feet at 600 Brickell, which was completed 10 years ago. It was unable to complete the deal due to a lack of space in the building, and is instead now looking at The Plaza in Coral Gables.
