Miami office market evolves as companies seek luxury, amenities and location

South Florida has attracted thousands of new residents in recent years. But as people and businesses move to the region, what kinds of office spaces are they choosing? In Miami, the answer increasingly depends not only on location and price, but on the experience an office building can provide. Cyril Bijaoui, a broker associate with The Corcoran Group who has worked in commercial real estate for more than 20 years, says the traditional concept of an office is changing. Instead of simply looking for four walls, desks and a place to work, some companies are seeking smaller spaces in high-end buildings with amenities such as gyms and restaurants, as well as offices within walking distance of where employees live. The shift comes as workers have returned to offices following the pandemic, and Miami continues to attract businesses and residents from outside South Florida. According to CoStar data cited by Bijaoui, Miami s overall office vacancy rate has been slowly decreasing