The Brickell financial district in downtown Miami continues to gain space among those who want to occupy the large skyscrapers to establish their offices. This week, according to Bloomberg and FT, office rents reached historic levels.
This is the case of Banco Master in Brazil, which managed to occupy 100% of its units located at 830 Brickell. According to the report, this financial institution from the South American country rented 26.000 square feet of space, which means a rate of 190 dollars per square foot.
This puts Florida's prices on par with the most expensive offices in Manhattan, New York State, reflecting the area's ongoing development. The new building will be the tallest ever built in Brickell, with a height of 724 feet and a total of 55 floors. According to Bloomberg, the construction is not on schedule, but is expected to open in spring next year.
Brickell is one of the fastest growing neighborhoods in the city. This area is home to a significant number of international bank headquarters, consulates of different countries, and thousands of offices of different foreign and national companies. No one wants to miss out on a spot in this busy space as it is an important area when it comes to business.
Thousands of investors from several years ago to the present day have set up their companies in important locations in this neighborhood, which enables them to continue expanding their businesses and be shoulder to shoulder with the competition.
