MIAMI—Miami's office market will heat up in 2015—but it might not look exactly like some people think. Although most industry watchers expect Miami's office market recover to continue next year, Donald Cartwright, senior vice president of JLL and exclusive leasing agent for Southeast Financial Center, Florida's tallest, largest office tower in Miami, sees some interesting trends developing.
“Within the office sector, there will be increased demand for open space footprints in non-traditional urban and downtown areas,” Cartwright tells GlobeSt.com. “Urban centers like Miami offer more of the elements that draw today's professionals and are becoming attractive locations for creative agencies and technology companies in particular. These businesses, which in the past took space in suburban submarkets, are realizing the benefits of being in an urban environment offering nearby housing, recreation, transportation and retail amenities.”
Southeast Financial Center, along with competing office towers, are in a good position to benefit from this trend. Southeast Financial Center stands out as a hub for law firms in the urban core.
In fact, saying the Southeast Financial Center is on law firm leasing roll would be an understatement. The 1.225 million-square-foot tower is known for attracting law firms and just inked another significant renewal and expansion. Most recently, global law firm DLA Piper has signed a long-term lease renewal to expand its office space by 22,500 square feet. The firm is taking down the 24th floor of the Downtown Miami office tower. 2014 saw several high-profile law firms ink deals at the tower.
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