Miami Tech Industry: Driving the Next Era of Office Space Market Growth
The Miami Tech Industry, although currently in its absolute infancy, may become the next driving force in commercial real estate for the South Florida area. For those of us young enough to remember, the Miami Skyline of just 20 years ago was defined by two landmark buildings of the time. First there was the Southeast Financial Center which stood as the tallest building in Miami, and the Centrust Building (now the Miami Tower) which has forever lit the Miami skyline in various colors to commemorate the moment.
Photos are worth a thousand words and there is no exception here. Fast forward to 2020 and Miami’s redeveloped skyline has evolved into a maturing metropolis. The Magic City is now redefined by the millions of new square feet of construction that include state of the art office, retail, multifamily, hotel, and specialty properties. Not to mention the other barrage of new industrial real estate development, that while not readily visible in most photos of Miami’s skyline, do exist in the background and serve as the manufacturing and logistic backbone to both domestic and multinational operations.
In just two short decades Miami has come well on its way to repositioning itself as not just a playground destination, but rather a corporate landscape where multinational companies feel compelled to plant their corporate flag. It’s no secret that Miami has hosted international banks and Latin American corporate headquarters for decades, however the City is now attracting a new breed of business. Miami has an emerging tech industry that, although slowly brewing, is certainly in existence and gaining momentum.
A testament to Miami’s expanding tech industry is the eMerge Americas event held in Miami Beach. The venue brings together the entire spectrum of the industry, including startups, entrepreneurs, corporate enterprises, higher-education, and investors to name a few. The goal of the event is telling Miami’s growth history to the world, while attracting the best and brightest talent and tech industry participants. To learn more about Miami growing tech industry at www.emergeamericas.com.
Irving J. Diaz CCIM is the founder and managing principal of Zureq Realty Advisors. He is a seasoned commercial real estate advisor and broker with over twenty-five (25) years of experience. He is a subject-matter expert involving a variety of commercial and industrial property asset classes and has represented a wide range of clients, including private investors, family trusts, owner-occupiers, and corporate tenants.