Quote:
Originally Posted by JMKeynes
Honestly, I wouldn’t be surprised if even Citadel dramatically reduced the amount of office space in their tower and shifts space to hotels and condos. I’d be shocked if Citadel needs more than 300k sf in Miami. Everyone will want to go to NY.
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The Citadel Miami office might literally end up being a bit of a 'company perk' to some degree.
147,000/525,000 sqft of the 830 Brickell = 28% of the most premier office tower in a 'once in a generation' real estate boom in Miami, being leased (previously) by a co-working company doesn't exactly scream 'everyone's moving to Miami' commercialy, quite the opposite.
By comparison, Sterling Bay is building random 500k sqft offices in West Loop Chicago filled with companies I've never heard of and the city has a fairly high office vacancy rate
https://sterlingbay.com/our-portfolio/
I just feel the 'narrative' for office leasing in Miami doesn't exactly fit the evidence unfortunately.