Robust office development continues to reshape Miamis skyline - United States
Robust office development continues to reshape Miami’s skyline
Miami's vibrant economy, favorable business climate, and attractive lifestyle have contributed to an increase in office development activity, with 1.9 million square feet (msf) under construction and 50% of the space pre-leased.
One of Miami's most significant urban projects underway is 830 Brickell, set to deliver later in 2023 and introduce a cutting-edge generation of office spaces. Among the notable tenants secured for this expansive development are Banco Santander, Citadel, and Sidley Austin.
By the end of 2023, Miami is set to witness the delivery of over 1 msf of office space, marking the highest volume in the past decade. As leasing demand in South Florida continues to surge, the average annual office deliveries have surpassed 440,000 square feet, reflecting the growing need for office space in the region.