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Office Space for Rent in Miami, FL - 688 Listings

Miami, FL - Office Space for Lease

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Miami, FL - Office Market Overview

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The Miami Metropolitan Area includes the Downtown Dadeland, Midtown-Edgewater, and Northeast Coconut Grove office space submarkets. With a metropolitan population of nearly 2.7 million people, Miami is known as 'The Cruise Capital of the World' and is also a major center of commerce. A diverse industry mix of international finance, biotechnology and research institutions help to drive the demand for white-collar office space employment in the region.

As of mid-2017, the Greater Miami office market encompasses over 32 million square feet of existing office space in properties larger than 50,000 square feet. Demand for Miami commercial real estate is also driven by the countless global businesses that are headquartered in the city.

Miami, FL - Office Inventory Description

The Globalization and World Cities Study Group & Network recently ranked Miami as a 'world city', one that is an important link within the global economic system. With a gross metropolitan product of over $128 billion annually, there is what some consider to be an insatiable demand for white-collar office space in the metro area. Nearly 70% of the office inventory in Miami is Class A or A+, while Class B office property adds another 29% of inventory to the market.

The Downtown Miami office market attracts tenants and international investors with its numerous portfolio office properties. Located just north of the Brickell neighborhood this office submarket contains Class A office buildings such as the SunTrust International Center, the Wells Fargo Center, and the Miami Center at 201 South Biscayne Boulevard.

Miami, FL Commercial Inventory Breakdown

Office Spaces

Total: 45,823,161 SF

Data provided by Yardi Matrix, properties over 50k SF, includes office with retail

By square footage range:

  • 50k to 100k SF: 7,634,246 SF / 16.66% of total office
  • 100k to 500k SF: 20,937,350 SF / 45.69% of total office
  • 500k to 1M SF: 10,545,453 SF / 23.01% of total office
  • > 1M SF: 6,706,112 SF / 14.63% of total office

By class:

  • Class A+: 7,538,408 SF / 16.45% of total office
  • Class A: 19,114,280 SF / 41.71% of total office
  • Class B: 9,802,772 SF / 21.39% of total office
  • Class C: 358,244 SF / 0.78% of total office

Top 10 Largest Office Buildings

in Miami

Office building Address Sqft Year built
ASRR Capital Towers SEC NE 2nd Avenue & NE 18th Street, 33132 1,700,000 n/a
Panorama Tower 1101 Brickell Bay Drive, 33131 1,440,985 2018
The Sterling 555 North Miami Avenue, 33132 1,260,000 n/a
Southeast Financial Center 200 South Biscayne Blvd, 33131 1,233,401 1981
One Biscayne Tower 2 South Biscayne Blvd, 33131 1,071,726 1971
Citigroup Center 201 South Biscayne Blvd, 33131 782,686 1983
Wells Fargo Center 333 SE 2nd Avenue, 33131 752,488 2010
One Brickell City Centre 444 Brickell Avenue, 33130 743,768 n/a
701 Brickell 701 Brickell Avenue, 33131 677,667 1986
Brickell Arch 1395 Brickell Avenue, 33131 675,141 2004

Most Recently-Built Office Buildings

in Miami

Office building Address Sqft Year built
800 Waterford at Blue Lagoon 800 Waterford Way, 33126 246,085 2017
Mercy Medical Arts Building 3683 South Miami Avenue, 33133 103,917 2017
Three Brickell City Centre 98 SE 7th Street, 33130 384,550 2016
Two Brickell City Centre 78 SW 7th Street, 33130 379,338 2016
IFB Center 777 SW 37th Avenue, 33135 51,664 2012
Brickell World Plaza 600 Brickell Avenue, 33131 614,905 2011
University of Miami Life Science & Technology Park - 1951 NW 7th Avenue 1951 NW 7th Avenue, 33136 258,681 2011
Crossroads at Dolphin Commerce Center - 2101 NW 117th Avenue 2101 NW 117th Avenue, 33172 91,874 2011
West Kendall Baptist Hospital Medical Arts Building 15955 SW 96th Street, 33196 63,000 2011
Wells Fargo Center 333 SE 2nd Avenue, 33131 752,488 2010

Miami, FL - Green Office Space

Employment

Not only is Miami an international business hub, it is also one of the leading major U.S. markets for the adoption of energy-efficient office standards. The 2017 National Green Building Adoption Index ranked Miami 15th for green energy buildings. Over 4% of the office buildings larger than 50,000 square feet in Miami are LEED-certified, nearly 11% are Energy Star-rated, and over 12% are classified as green buildings.

A prime example of green building in Miami is the Brickell World Plaza at 600 Brickell Avenue. Built in 2011, this nearly 615,000-square-foot Class A property is located immediately south of Downtown Miami in the Brickell office submarket and boasts the extremely-difficult-to-obtain LEED Platinum certification.

Since 2005, the percentage of green office buildings has steadily increased to the point where by mid-2017 about 38% of the office space in the top 30 U.S. markets can be classified as energy-efficient, up from 5% over the past 12 years.

Miami, FL's Top Office-Using Sectors

The demand for office space and commercial real estate in Miami is driven by a variety of office-using employment sectors, including government, transportation & tourism, and high-technology.

  • Government – Miami-Dade County, the United States Government, the Florida Government, and the City of Miami along with the businesses they attract are the top employers and some of the biggest users of office space in Miami.
  • Transportation & Tourism – American Airlines, Celebrity Cruises, Carnival Cruise Lines, Norwegian Cruise Lines, and Arrow Air are just a few of the companies that benefit from the dynamic tourism industry in the region.
  • High-Technology – Demand for white-collar office space in Miami is created by cutting-edge tech companies such as Cisco, Microsoft, Yahoo, Oracle, Symantec, and Telefonica USA.
  • Global Corporate Offices – Thousands of national and international businesses based in Miami ensure a robust office market, including Arquitectonica, Brightstar Corporation, UniMAS, Telemundo, Univision, SBC Communications, and the Vector Group.

Miami Demographics

Population

  • Total Population424,632
  • Male Population(49.5 %) 210,335
  • Female Population(50.5 %) 214,297
  • Median Age39.40

Income/Financial

  • Average Household Income$54,291
  • Median Household Income$31,051
  • Median Income Under 25$25,016
  • Median Income 25-44$41,125
  • Median Income 45-64$32,612
  • Median Income Over 65$18,065

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