The Real Deal Miami

Businesses choosing savings over prime locations

May 04, 2009 06:19PM

As businesses worry about profits, they are reevaluating the importance of offices in prime downtown locations. TresKoi Public Relations is one firm that chose office space in the Bank building at Northeast 81st Street and Biscayne Boulevard, instead of more expensive offices in downtown Miami or South Beach. Class A buildings in Miami’s central business district averaged $43.77 per square foot in the first quarter, compared to $35.46 in less popular areas, according to data from Cushman & Wakefield.