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Miami Office Space Guide

A guide to executive suites and offices for rent in Miami as well as general information that may be useful if you are considering renting office space in the city.

For further office space information or to search offices for rent in Miami just click. Or contact us for any office space search query.

History & Geography

Miami is one of the most iconic cities in the USA, a sun-drenched metropolis famed for its beaches, nightlife, and fast-paced lifestyle. Located on the southeastern coast of Florida, the city sits on the Atlantic Ocean between the Florida Everglades and Biscayne Bay. There are several hundred islands in the area, warmed by the Gulf Stream, an ocean current which runs just offshore and ensures Miami has a warm climate all year round. Before Europeans came to the area the region was inhabited by the Tequestas, a native American tribe. In 1566 the explorer Pedro Menendez de Aviles claimed the area for Spain and a mission was constructed. For centuries Spain and Great Britain vied for control of Florida, until in 1821 it was ceded permanently to the US. The US soon built a series of forts in the area to control the Seminole tribe. A local citrus farmer, Julia Tuttle, is considered the founder of Miami and is known as the only woman founder of a US city. On July 28th 1896 Miami was officially incorporated as a city, named for the nearby Miami River. The city immediately prospered, with its population bolstered by an influx of northerners. In the 1920s especially Miami grew, fuelled by the Florida land boom. However in the 1930s the local economy plummeted when the Great Depression hit. But with the advent of WWII the economy revived and Florida became an important base for the US fight against German submarines. In 1959 Fidel Castro came to power in Cuba and many wealthy Cubans fled to Miami, further increasing the population. Over the subsequent decades the city has continued to grow in both population and importance. Currently the city’s population numbers around five and a half million people and Miami is a major regional centre of commerce, tourism, and culture.

Economy

Miami is a major regional centre of commerce and has the 11th largest GDP of any city in America. In the last decade Miami has experienced a major construction boom and has seen a number of skyscrapers change the city’s skyline. In fact Miami’s skyline is ranked third in the nation after New York and Chicago. Due to the construction boom much of the city’s population has migrated downtown in the last decade. However Miami has also been ranked as being one of the most angst-ridden cities in the country due to the high number of foreclosures caused by the housing crash. A bulwark of the city’s economy is its port, which is one of the busiest in America. Miami is the main port of entry for cargo from South America and is also an important port for cruise ships. The port contributes USD 18 billion a year to the city’s economy, and supports 176,000 jobs. Banking and financial services is another large industry in Miami, with the city having the largest concentration of international banks in the country. Among the largest companies with a presence in Miami are Carnival Cruise Lines, Interval International, Ryder Systems, Perry Ellis International, Univision, Bacardi, and Exxon.

Tourism & Culture

Another large part of Miami’s economy is its tourism industry. More than 38 million visitors come to Miami ever year and together they spend over USD 17 billion dollars in the city. Many flock to the neighbourhood of South Beach, with its Art Deco stylings and glamorous bars, nightclubs, and beaches. The city also has a number of annual festivals which are popular with tourists. Top among these are the Calle Ocho Festival and Carnaval Miami. Miami also boasts the second largest performing arts centre in the US, the Adrienne Arsht Centre for the Performing Arts. Many visitors to Miami also frequent its many museums, including the Frost Art Museum, the Miami Art Museum, Miami Science Museum, and the Vizcaya Museum & Gardens. Miami is also renowned for its year-round tropical weather. Surfing, sailing, boating, snorkeling, and scuba diving are popular pursuits. The coral reefs around Biscayne Bay are especially popular with scuba divers and snorkelers. There are many parks and gardens in Miami, the most visited of which are Fairchild Tropical Botanic Garden, Key Biscayne, Tropical Park, Peacock Park, and Virginia Key.

Transportation

Miami is served by Miami International Airport which serves more than 35 million passengers every year. Behind New York’s JFK Airport, Miami International is the second-largest port of entry for visitors to the US. Public transportation in the city itself is comprised of commuter rail, heavy rail, a people-mover, and busses. Currently, the city is building Miami Central Station, a massive building project which will result in a huge transportation hub for Miami. Miami’s road system is based on a grid system like many cities in the US. The county is served by four interstate highways and several major state roads.

Office space for rent in Miami

Miami traditionally has a strong and vibrant office market. It was hit hard during the recession, however, is now seen to be bouncing back. Currently, the vacancy rate is approximately 21 percent for Grade A office space and about 20 percent for Grade B office space. A total of 9.1 million square feet of office space is currently lying empty in the city, 3.2 million square feet of this downtown. The overall rental rate in Miami is USD 30.75 per square foot. These rates have increased slightly over the last couple of years and have been forecast to keep rising steadily.

 

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Miami has a vast selection of business travel accommodation options and we have partnered with Booking.com to bring you all of these in one place.

You can use the search tool below to search and book. If you have a Booking.com account, you can log into that via the tool.

Please also see our new Street Address Guide for this location below.



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