A guide to office space in Miami
Miami, known as the ‘Magic City’, boasts a strong international business community and is a center for commerce in Florida. Due to its strength in international business, finance and trade, Miami’s financial district has the largest concentration of international banks in the country. It is also a major hub for television production and the most important city for Spanish language media in the US; Telemundo, Univision and UniMAS all have their headquarters in Miami.
The location
Miami is located on the Atlantic Coast in south-eastern Florida.
Its metro area has a population of around 5.5 million.
With a tropical monsoon climate, it has hot and humid summers and short, warm winters.
Miami is roughly partitioned into North, South, West and Downtown.
The heart of the city is Downtown Miami, which is technically on the eastern side of the city.
With sprawling beaches, great weather and a host of events and festivals throughout the year, Miami has become a popular tourist destination, attracting over 38 million visitors from around the world each year, spending $17.1 billion.
Neighbouring areas - price comparisons, per person per month
| The prices given below are the minimum to maximum average cost for executive suites, per person per month, derived from our Sales Team's knowledge. |
| Area | Indicative price range |
|---|---|
| Downtown Miami | $900 – 1200 |
| Coral Gables | $800 – 1000 |
| Brickell | $800 – 1200 |
| Doral | $500 – 700 |
Looking for an office in Miami
However, in recent years Miami has seen a huge building boom; most of this development is happening west toward Doral.
Fueled by a strong office market, the area is undergoing an urban transformation, as well as massive mixed-use projects like Downtown Doral and City Place Doral.
These developments include eight mid-rise condo towers, 70 retail stores and restaurants, and more than a million square feet of office space in four buildings along a new Main Street.
When companies look to move to Miami they are often looking to tackle the Latin America Market.
Top priorities for companies setting up in Miami are rent prices, available parking and beautiful views for client facing tenants.
For people looking for office space in Miami, our expert local representative Tomas Larkin suggests Brickell for a large range of options in office size and type.
Costs
The typical rate in Miami for executive suites averages around $900 per desk per month, depending on the area. Coral Gables, Downtown Miami, and Brickell will be on the higher end because of their central location and easy access to beach views.
Doral will be closer to $600 per person per month.
The further outside Downtown Miami you are, the lower the rates.
These prices often include parking and other amenities such as administrative support and security.
Office sizes
Because the office market in Miami is so congested at the moment, businesses are looking for a flexible, cost-effective solution in executive suites.
The size of offices depends on a company’s needs and the industry they’re in.
However, smaller, individual office spaces of 1-3 employees have been particularly popular in the city as companies test the water in Miami. For client-facing companies, an A Grade office in Miami has become a must.
Instant Offices are able to accommodate most inquiries, from one person through to 100 or more depending on the specifics.
Five things you probably didn't know about Miami:
- Before development started in the 1920s Miami Beach was a mangrove swamp
- Miami is the only city in the United States founded by a woman, Julia Tuttle and was incorporated in 1896
- Miami is bordered by two separate National Parks – Everglades National Park and Biscayne National Park
- While English may be the official language of Miami, Spanish is by far the dominant language, spoken by over 60% of the population
- The first Summits of the Americas (SOA) meetings were hosted by Bill Clinton in Miami, in 1994
Why choose Miami?
This makes the city a prime position for any global trade companies looking to expand into the US.
Additionally, the Port of Miami is the world’s busiest cruise port, supporting the city’s booming tourism industry.
Miami also offers businesses unique access to the Spanish market as the largest gateway between the Unites States and Latin America.
With sweeping views in areas such as Brickell, and a host of A Grade buildings, Miami is the ideal city for businesses looking to impress their clients.
A closer look at Miami
The most popular areas in which to rent office space in Miami are:
Brickell
- Most prime/ A Grade office space located in this district
- Most office spaces have a beach view
- Located close to the highway, and is served by Metrobus throughout the area, the Miami Metrorail, and the Metromover: making it great for transport links
- Brickell is Miami’s financial district
- Home to the largest concentration of international banks in the United States, and many large national and international companies
- Brickell has most of the state's foreign consulates
- Population of over 27,000 people
- Home to Florida International University
- Preferred choice for people outside of Downtown Miami
- Offers easy access to Brickell and Downtown
- Great retail and tourism sector, with around 140 dining establishments and gourmet shops, and many notable international retailers and companies including American Airlines
- Home to the University of Miami
- Known as the ‘City Beautiful’ for its stunning architecture
- Served by Metrobus throughout the area, and by the Miami Metrorail
- Smaller buildings in this area with a friendlier feel
- An industrial and suburban mixed neighborhood
- Close proximity to Miami International Airport
- Sector made up of trade and import/export companies
- Easy access to the harbor and down the road from Fort Lauderdale ports
- Rapid developments are happening in the area, creating large amounts of available office space to rent
Want to find out more?
If you’re looking to move into the area, or simply require more information, contact Instant Offices’ specialist local consultants.
Email our team or call us and we'll be delighted to help you.