South Florida Office Growth Drives Miami Expansions

South Florida office expansions outpace new-to-market leases, with 671K SF absorbed in 2025.
Major tenants like Amazon and Uber are increasing Miami footprints soon after initial moves.
830 Brickell, Miami’s flagship tower, sees intense demand despite high rents.
Longtime Miami tenants face challenges as rents surge, while newcomers see relative value.

Key Takeaways

Miami Office Footprints Expand

While the pace of newcomers opening offices in Miami has slowed, corporate residents who recently arrived are ramping up hiring and demand for South Florida office space, says Bisnow. Major companies including Amazon, Uber, and financial services firms like CI Financial and Corient have quickly outgrown initial leases, signing for larger footprints across sought-after buildings such as 830 Brickell and Wynwood Plaza.

Corporate Growth Fuels Demand

Corporate expansions accounted for 671K SF of South Florida office absorption in 2025, according to Blanca Commercial Real Estate. Big brands are doubling down on Miami workspace: Amazon increased from 50K SF to 76K SF at Wynwood Plaza, and Uber nearly doubled its space at 3MiamiCentral. Advisory firms and tech players are also scaling up, driven by easier hiring and confidence in the city’s appeal.

830 Brickell Remains in High Demand

Developed by OKO Group and Cain, 830 Brickell remains a focal point for South Florida office demand. The tower fully leased even as asking rents climbed to record highs. Four large tenants—potentially including Citadel, Microsoft, and Thoma Bravo—are vying for 27K SF vacated by Banco Master after its lease was terminated. Citadel, which recently leased two additional floors in the building, continues to grow its presence in Brickell. Brokers expect any vacancy to be short-lived as existing tenants seek additional space.

Tax Climate Drives Expansion

Miami’s business-friendly climate, notably no state income tax, continues to attract firms threatened by higher taxes elsewhere. Demand is particularly strong from groups leaving California and New York. According to brokers, some companies in South Florida are planning to expand their office footprints by as much as tenfold in 2026, with many selecting locations with neighboring vacancies to ensure future growth options.

Legacy Tenants Feel Pressure

New arrivals continue to boost South Florida’s office market. However, longtime Miami tenants now face rising rents and pressure to downsize. Law firm Fowler White Burnett reduced its footprint from 35K SF in Brickell. The firm cited lease rates nearly three times higher than a decade ago.

Incoming firms still view Miami as a bargain compared to home markets like New York and California. That perception often leads to underestimating future space needs. As a result, many quickly outgrow their original leases and expand shortly after moving in.

Outlook

Office demand in South Florida will likely remain strong as hiring gains speed. Corporate transplants increasingly favor flexible, scalable lease options.

Expansion by tech, finance, and professional services firms continues to lift occupancy and push rents higher. These trends further cement Miami’s appeal as a growing business hub.