Companies from all over the country — especially the Northeast — are making their way to Florida to save on taxes and enjoy the lifestyle and warm weather.
Yet with the trend of remote working, businesses’ need for space has diminished. Last year, every office lease in the top five was over 100,000 square feet. This year only one surpasses that figure.
Here’s a breakdown of the top office leases signed this year in South Florida.
1. Morgan Stanley, Miami, 111,100 sf
Morgan Stanley, one of the nation’s largest investment banks, inked a lease for 111,100 square feet of space in downtown Miami. The bank will be occupying space in Miami’s third tallest building, the Southeast Financial Center at 200 South Biscayne Boulevard.
2. General Services Administration, Plantation, 64,582 sf
The U.S. government agency General Services Administration signed a lease for 64,582 square feet at 1248 North University Drive in Plantation.
3. Greenspoon Marder, Fort Lauderdale, 61,994
Law firm Greenspoon Marder renewed its lease for 61,994 square feet in downtown Fort Lauderdale. The firm gave up about 13,000 square feet at 200 East Broward Boulevard, downsizing from 75,000 square feet.
4. Galen Health, Pembroke Pines, 45,466 sf
Galen Health agreed to lease 45,466 square feet at The Edison in Pembroke Pines. The healthcare company signed its deal during the first quarter of the year.
5. Global Institutes on Addictions (GIA), Miami, 43,895 sf
Mental health wellness center Global Institutes signed a lease at 1501 Biscayne Boulevard in Miami. The 43,895 space at the Omni Center will be used as an office and treatment center.
SOURCE: TRD analysis of brokerage data, as provided by Colliers International, news clippings and market reports.