2020 Office Space Rent & Sales
- $43.24 2020 Avg. Asking Rent
- 5.94 % 2020 Office Vacancy Rate
Miami Beach office price per square foot in 2020 was $43.24 on average. The local office market recorded an average vacancy rate of 5.94 % across all asset classes combined.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- Miami Beach Class A Office Space$50.71
- Miami Beach Class B Office Space$39.57
- Florida Class A Office Space$37.78
- Florida Class B Office Space$23.96
- Florida Class C Office Space$18.38
Miami Beach, FL Office Asking Rents by Class
2020 Office Construction in Miami Beach, FL
- Miami Beach, FL Total Sqft completed in 2020
- Miami Beach, FL Total Sqft under construction in 2021 162,751
During 2020, square feet of new office space were delivered across the market. At the close of 2020, the Miami Beach office inventory included buildings equal to or larger than 25,000 square feet, which comprised square feet of office space. Looking forward, development activity throughout 2021 is estimated to add 162,751 square feet of office space to the market, before year-end.
|1674 Meridian Avenue||1674 Meridian Avenue, 33139||31,270||2021|
|709 Alton||709 Alton Road, 33139||63,500||2018|
|Donald L. Golden Family Medical Building||4308 Alton Road, 33140||106,000||2008|
|1170 Kane Concourse||1170 Kane Concourse, 33154||36,306||2007|
|Miami Beach Office Center||1000 5th Street, 33139||104,531||2004|
|The Lincoln||1691 Michigan Avenue, 33140||161,448||2003|
|Lincoln Place||1601 Washington Avenue, 33139||139,887||2002|
|The Yukon Building||119 Washington Avenue, 33139||89,916||2002|
|555 Washington||555 Washington Avenue, 33139||68,000||2001|
|Mount Sinai Medical Center - Simon Building||4302 Alton Road, 33140||182,000||1987|
Worth noting among recent office completions on the Miami Beach market is 1674 Meridian Avenue, which is currently the largest new office development in the city, at 31,270 square feet.
See reports for nearby markets
This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2020 through December 31st 2020. Construction pipeline data represented herein is valid as of April 2021. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Miami Beach commercial properties sized 25,000 square feet or larger.
While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.