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Office Space for Rent in Miami, FL - 358 Listings

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: 44,775,371 SF

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

By square footage range:

  • 50k to 100k SF: 8,288,702 SF / 18.51% of total office
  • 100k to 500k SF: 21,361,794 SF / 47.71% of total office
  • 500k to 1M SF: 9,892,613 SF / 22.09% of total office
  • > 1M SF: 5,232,262 SF / 11.69% of total office

By class:

  • Class A+: 7,681,333 SF / 17.16% of total office
  • Class A: 20,587,418 SF / 45.98% of total office
  • Class B: 9,997,703 SF / 22.33% of total office
  • Class C: 418,422 SF / 0.93% of total office

Top 10 Largest Office Buildings

in Miami

Office building Address Sqft Year built
Panorama Tower 1101 Brickell Bay Drive, 33131 1,540,385 2018
Miami 18 SEC NE 2nd Avenue & NE 18th Street, 33132 1,386,750 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
One Bayfront Plaza - Redevelopment 100 South Biscayne Blvd, 33131 635,959 n/a
Flagler Corporate Center 9250 West Flagler Street, 33174 634,818 1984

Most Recently-Built Office Buildings

in Miami

Office building Address Sqft Year built
Panorama Tower 1101 Brickell Bay Drive, 33131 1,540,385 2018
Two MiamiCentral 700 MiamiCentral Avenue, 33136 202,438 2018
Three MiamiCentral 161 NW 6th Street, 33136 131,000 2018
800 Waterford at Blue Lagoon 800 Waterford Way, 33126 246,085 2017
Mercy Medical Arts Building 3683 South Miami Avenue, 33133 103,917 2017
Security Building 117 NE 1st Avenue, 33132 96,575 2017
Design 41 112 NE 41st Street, 33137 48,085 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
14970 SW 136th Street 14970 SW 136th Street, 33196 30,881 2013

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 Population443,007
  • Male Population(49.4 %) 219,009
  • Female Population(50.6 %) 223,998
  • Median Age40.00

Income/Financial

  • Average Household Income$60,341
  • Median Household Income$33,999
  • Median Income Under 25$29,072
  • Median Income 25-44$45,044
  • Median Income 45-64$36,652
  • Median Income Over 65$19,344

News

Last year, Miami office sales volume reached $858 million across its top 10 transactions and the market’s largest transaction nearly made the list of top 50 U.S. office deals. The Sabadell Financial Center’s $248.5 million sale came in just under a $255 million deal for an Oakland office buildin...

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  Located at the very heart of Miami’s bustling Brickell Financial District and South Florida’s international trade and finance corridor, the Brickell City Centre is one of the largest development complexes in the city and it isn’t even finished yet. Situated at 701 S Miami Avenue, the buil...