Miami, FL Office Space for Rent
Commercial real estate in the South Florida region has stood out among the country’s best markets for fiscal stability more than once. As the main metropolitan engine, Miami drives not only population, but also business growth across the area. The city takes great pride in its business-friendly environment, which continues to draw both national and international investors. Miami’s climate, excellent location, and rich cultural influences have nurtured a strong regional retail sector, as well as an office market made famous and perpetually irresitible by the bold investors of the 1980s. That same office market is fueled by the city’s strong professional services segment, today.
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Rates for office space for rent in Miami average $34.39 per square foot per year. Currently, there are 1,165 office space opportunities listed locally, spread across 10 class A and 133 class A office assets, as well as 201 class B and 50 class C buildings. Out of the total number of Miami properties with listed vacancies, 23 are LEED-certified. The average size for office space for rent in Miami is 5,799 square feet.
701 Brickell
Office
7 Spaces / 40,057 Sqft
One Biscayne Tower
Office
17 Spaces / 179,760 Sqft
6505 Waterford
Office
6 Spaces / 54,141 Sqft
6303 Waterford at Blue Lagoon
Office
7 Spaces / 16,853 Sqft
Boulevard Center
Office
6 Spaces / 11,601 Sqft
444 Brickell
Office
11 Spaces / 71,603 Sqft
South Tower
Office
13 Spaces / 31,131 Sqft
6100 Waterford
Office
5 Spaces / 16,538 Sqft
Meridian Executive Center
Office
3 Spaces / 7,573 Sqft
Miami Office Space Market Stats
The “Cruise Capital of the World” is also home to a vibrant office market — a sunny, sprawling expanse of iconic architecture made irreversibly famous in the particularly prolific 1980s.
Anchoring a vast metropolitan area, Miami city proper is home to a population of more than 400,000 residents, as well as some of the priciest Florida real estate. Office space for rent in Miami commands, on average, $34.39 per square foot per year. Listings offer a good range of size and include spaces as large as 311,479 square feet or as small as 95 square feet. Locally listed Miami office opportunities total 6,974,019 square feet, with rents starting at $14.00 per square foot per year.
Office listings on the Miami market include spaces in 133 class A properties, and 10 that are class A+. The average rent for class A office space here is $39.08 per square foot per year, while class A+ rentals get, on average, $62.30 per square foot per year. The average rate for class B office space for rent in Miami is $29.11 per square foot per year, while class C office space gets an average of $26.11 per square foot per year.
Commercial real estate news
From our blog
First National Realty Partners Acquires N.J. Office Building
April 30, 2020
Real estate investment firm First National Realty Partners recently announced the purchase of The Coastal Building in Red Bank, NJ. The property will add 29,178 square feet of Class A Jersey Shore office space to the company’s portfolio.
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Amazon Expands Presence in Baltimore-D.C. Commercial Corridor
April 24, 2020
Cushman-Wakefield completed the $91 million sale of Techwood Business Center in Hanover, Md., on behalf of the seller, RREEF Management LLC. Amazon was the buyer in the deal, adding the Baltimore business park to its expanding portfolio in the state of Maryland.
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Charlotte’s Hearst Tower Changes Hands in $446M Deal
April 14, 2020
Atlanta-based Cousins Properties has completed the sale of Hearst Tower. The Uptown Charlotte office property changed ownership to locally based Truist Financial Corporation. Commanding a gross price tag of $455.5 million, the building sold for roughly $470 per square foot.
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