Miami-Dade Office Market Report

Miami demand metrics hold a top spot. The metro recorded the fourth-lowest vacancy rate among major markets in the country in March 2024. Miami’s strategic location and established infrastructure, such as Miami International Airport, has appealed to international firms. The airport here has reported an uptick in cross-border travel, with 15,000 more commercial flights in 2023 than in 2018. Highlighting this influence, two of the largest individual move-ins planned over the next two years are tied to global firms: Mediterranean Shipping Company (MSC) and Citadel Securities. MSC starts a 130,000-square-foot lease downtown in 2025, while Citadel will be upgrading its floor plan to a 95,000-square-foot space in Brickell.