{"id":333173,"date":"2026-07-08T14:51:18","date_gmt":"2026-07-08T14:51:18","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/333173\/"},"modified":"2026-07-08T14:51:18","modified_gmt":"2026-07-08T14:51:18","slug":"miami-has-highest-office-asking-rents-in-the-us","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/333173\/","title":{"rendered":"Miami has highest office asking rents in the US"},"content":{"rendered":"<p class=\"Subheading_root__MWlO8\">Magic City averages $59.66 per square foot, outpacing the five boroughs\u2019 $50.56<\/p>\n<p>Jul 8, 2026, 1:00 PM UTC<\/p>\n<p class=\"DisallowedContent_text__aUl_H\">Subscribe to TRD Data to unlock this content<\/p>\n<p>Subscribe<\/p>\n<p>The U.S. city with the highest asking rent is not the Big Apple or Silicon Valley \u2014 it\u2019s Miami.<\/p>\n<p>The Magic City logged an average asking rent of $59.66 per square foot, besting New York\u2019s $50.56 per square foot, according to an analysis by commercial listings platform <a href=\"https:\/\/www.loopnet.com\/cre-explained\/trends\/best-cities-for-office-investing\/\" rel=\"nofollow noopener\" target=\"_blank\">LoopNet<\/a>, which looked at 5,000 office listings across 50 markets as of March 2026. The report is new for the firm.<\/p>\n<p>New York\u2019s figure encompasses the entire city, not just Manhattan, whose <a href=\"https:\/\/therealdeal.com\/new-york\/2026\/07\/01\/tightening-office-market-pushes-manhattan-rents-higher-in-q2\/\" rel=\"nofollow noopener\" target=\"_blank\">office leasing <\/a>market has been on a hot streak so far this year. Data from commercial real estate research firm Yardi Matrix shows the asking price for Manhattan alone coming in at $69.29 in May, the highest in the country. Miami\u2019s was third, at $58.41.<\/p>\n<p>Still, Miami has seen companies clamoring for high-quality space, said Declan Hood, a senior analyst covering the Florida market for Avison Young. While law firms and financial companies have been mainstay tenants in the market, Miami also is seeing <a href=\"https:\/\/therealdeal.com\/magazine\/april-2026\/excitement-is-back-for-miami-offices-will-the-leases-follow\/\" rel=\"nofollow noopener\" target=\"_blank\">tech companies<\/a> snap up leases.<\/p>\n<p>\u201cThe demand\u2019s there, which would lead landlords to hike that asking rate overall,\u201d he said.<\/p>\n<p>Miami also has long been attracting high-net-worth individuals to the area, and they are bringing their companies along with them. Hedge fund Citadel, led by Ken Griffin, plans to <a href=\"https:\/\/therealdeal.com\/miami\/2026\/06\/11\/ken-griffin-adds-apartments-parking-to-brickell-development\/\" rel=\"nofollow noopener\" target=\"_blank\">construct a supertall office tower<\/a> in the city\u2019s Brickell neighborhood, which commands the city\u2019s top office rents.<\/p>\n<p>\u201cYou\u2019re seeing that type of wealth migrate into Miami,\u201d said Shipley Hall, executive managing director of Newmark who is based in Miami. \u201cThey want comparable office space to where they\u2019re used to living.\u201d<\/p>\n<p>Meanwhile, New York, in particular Manhattan, has seen a resurgence of demand for office space, having regained momentum following the pandemic and some landlords\u2019 decisions to convert empty offices into residential properties.<\/p>\n<p>\u201cWe\u2019re seeing a broader base of demand where it\u2019s concentrated in the mid-size tenant market, as well as some of the smaller tenants that are coming to the market,\u201d said Vikrant Ghate, a manager of market intelligence for Avison Young, based in New York. \u201cThese companies are still focused on efficiency.\u201d<\/p>\n<p>In Manhattan, the market is getting tighter for trophy properties, which has led to landlords pulling back on concessions, Ghate said.<\/p>\n<p>Three other coastal markets topped LoopNet\u2019s list as well: Washington, D.C. ($47.95 per square foot); San Francisco ($42.66 per square foot); and San Jose ($39.63).<\/p>\n","protected":false},"excerpt":{"rendered":"Magic City averages $59.66 per square foot, outpacing the five boroughs\u2019 $50.56 Jul 8, 2026, 1:00 PM UTC&hellip;\n","protected":false},"author":2,"featured_media":333174,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[123,125,124,137457],"class_list":["post-333173","post","type-post","status-publish","format-standard","has-post-thumbnail","category-miami","tag-miami","tag-miami-headlines","tag-miami-news","tag-miami-nyc-office-rents"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/333173","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=333173"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/333173\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/333174"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=333173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=333173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=333173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}