[UrbanImpact]

Originally Posted by JMKeynes

I think that there’s zero chance that they’ll get a construction loan without pre-leasing 500k sf. That, in and of itself, won’t be easy, as Miami doesn’t have tons of corporate HQs, massive law firms, etc.

In any event, Swire's myopic statement that "construction will begin soon" is vague and ambiguous. It might refer to clearing trees and debris. It could even refer to foundation work, but there's no chance whatsoever that a 1m sf office tower will rise on spec in Miami. That wouldn't happen in cities with far more vibrant office markets like Dallas, Houston, Atlanta, and even little Charlotte.

If that we're the case, then it's it bit strange that they needed voters to approve larger office floor plates in the latest elections.

The nearby 830 Brickell office tower that just went up is fully leased:
https://www.thenextmiami.com/830-bri...on-completion/