Trophy offices continue to outshine others in Miami

graph of average office lease size by class tier from 2019 to 2024 YTD with trophy properties outperforming class A and class B offices
  • The Miami office market remains attractive to both domestic and international businesses, leading to significant tenant demand for trophy office space. Companies exploring office relocations have found that Miami provides spacious floor plans suitable for headquarters or regional operations, along with top-tier building amenities, waterfront scenery, and great access to talent.
  • Since 2019, trophy properties in Miami's office market have consistently outperformed class A and class B properties in terms of average lease size. In 2023, the average lease size for trophy space was over 13,000 square feet, more than twice as large as the average lease size for class A and class B office space.

April 30, 2024

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