|8:00 AM - 9:00 AM||
Coffee, Breakfast & Networking
|9:00 AM - 9:45 AM||
The Evolution of Workplace Design
|9:45 AM - 10:30 AM||
Tenants: Miami's Entrepreneurial Ecosystem & Changing Needs
|10:30 AM - 11:15 AM||
Landlords: Investment, Development and Leasing of Office
|11:15 AM - 11:45 AM||
More Networking & Deal Making
Venue to be announced 1 month prior to the event
In today's competitive and fast-paced business climate, creating effective workplaces is essential to attracting and retaining top talent. Innovative companies are creating places for their employees to achieve deep focus and privacy, while optimizing in-between times for collaboration, community and play.
Millennials are in especially high demand. They are the largest of the five generations of workers currently in the workforce at 68.2 million workers and the most technologically advanced. Ken McCarthy, chief economist at Cushman & Wakefield says "They are the best-educated generation in history. That's why everyone wants to hire them." Developers must keep in mind amenities that keep this group happy: greenery, natural light, collaborative spaces and large windows that improve workforce productivity.
South Florida’s growing tech startup ecosystem and expanding coworking sector are attracting a new tenant base to Miami. The office market is healthy, as indicated by positive construction and absorption growth from prior years. In Q1 2019, co-working operators like Spaces and WeWork were the primary drivers of leasing activity, followed closely by real estate, financial and legal services tenants.
In Miami, new office construction is concentrated in Brickell, Wynwood, Coral Gables and Coconut Grove, and is scheduled to increase inventory by 490,000 SQ FT in 2019. RedSky Capital recently delivered CUBE Wynwd, a Class A office building, and Graham Companies completed Crescent Point, a mixed-use office and retail building in Miami Lakes Town Center. Both were about 37% leased upon delivery.
As companies in high-growth industries strive to recruit top talent, their demands for the workplace and their employees are evolving. Find out what developers and landlords are offering in terms of economic and amenity-driven incentives in order to retain these tenants, who have a higher lease turnover rate than traditionally stable tenants in finance, insurance or real estate sectors.
South Florida Office Market At a Glance: (per NGKF report)
- Total Q2 2019 net absorption: 185,799 sq. ft.
- Overall vacancy rate: 11.2% (down from 11.3% last quarter)
- Average asking rent: $33.73/sq. ft.
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