{"id":1004594225,"date":"2022-08-02T05:33:17","date_gmt":"2022-08-02T13:33:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004594225"},"modified":"2022-12-08T17:28:19","modified_gmt":"2022-12-09T01:28:19","slug":"miamis-office-pipeline-expanded-through-q2","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/miamis-office-pipeline-expanded-through-q2\/","title":{"rendered":"Miami’s Office Pipeline Expands in Q2"},"content":{"rendered":"

\"\"<\/a>By the end of the second quarter, Miami\u2019s office pipeline reached 5.6 million square feet, according to CommercialEdge<\/strong> data. The metro\u2019s under-construction stock represented 7.4 percent of its total office supply\u2014the third largest rate in the country.<\/p>\n

Most gateway cities saw boosts to their pipelines during the second quarter, except Los Angeles and San Francisco, which registered decreases. Between the end of April and June, Miami\u2019s under-construction stock increased by more than 223,300 square feet.<\/p>\n

In June, the nation’s office pipeline included nearly 151.7 million square feet, adding up to 2.2 percent of total stock. Other markets with large relative to total stock pipelines included Austin (9.4 percent), Nashville (7.5 percent), Boston (5.1 percent) and Charlotte (5.0 percent).<\/p>\n

Miami’s office pipeline<\/h2>\n

In May, a joint venture comprising an affiliate of Starwood Capital Group<\/strong>, Integra Investments<\/strong> and The Comras Co<\/strong>., announced it is awaiting approval of a 155,000-square-foot mixed-use development<\/a> in Miami Beach, Fla. The $116.3 million The Gardens at Lincoln Lane project is planned to create nearly 130,000 square feet of premier office space, along with 25,000 square feet of ground-level retail.<\/p>\n

In late June, Miami\u2019s largest office project<\/a> currently underway, OKO Group<\/strong> and Cain International<\/strong>\u2019s 830 Brickell, topped out. The first Class A office tower to be constructed in downtown in more than a decade, the high-rise will feature 55 stories and reach 724 feet. The 640,000-square-foot building was 60 percent leased at the time it topped out.<\/p>\n

As for second-quarter groundbreakings, UHealth Medical Center at SoL\u00e9 Miaone\u2014one of the biggest office projects in 2022\u2014commenced construction. Turnberry<\/strong> & LeFrak Organization<\/strong> are developing the 225,000-square-foot medical office property that is part of the 184-acre, $4 billion SoL\u00e9 Mia master-planned project. Completion is planned for the second quarter of 2023.<\/p>\n

CommercialEdge covers 8M+ property records in the United States. View the latest CommercialEdge national monthly office report here<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Among other highlights, the market\u2019s largest office tower topped out.<\/p>\n","protected":false},"author":739,"featured_media":1004545005,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,1492,21742,21747],"tags":[51047,50674],"class_list":["post-1004594225","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-miami","category-latest","category-office","tag-marketupdate","tag-commercialedge"],"acf":[],"yoast_head":"\nMiami's Office Pipeline Expands in Q2 -<\/title>\n<meta name=\"description\" content=\"The largest project within Miami's current office pipeline topped out during the second quarter of the year.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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