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Manhattan-based financial services firm Anchin announced it will be expanding to South Florida.
Anchin is debuting a 278K SF Class-A office space at One Boca Place, located at 2255 Glades Road in Boca Raton.
The firm targeted Florida as its first out-of-town expansion project since most of its clients are based in, or have relocated to, the Sunshine State, as reported by the South Florida Business Journal.
This is a common trend amid the pandemic, including within CRE, and New York-to-Miami migration was one of the strongest flows of people.
South Florida’s warm weather and lax restrictions early in the pandemic positioned Miami as an easy, fun and flexible work environment that was open for business, Ackman-Ziff Real Estate Group President Simon Ziff told Bisnow last year. Ziff, a New York CRE professional, had been working in Miami while his son was in high school remotely.
The news of Anchin’s expansion into the South Florida market comes on the heels of Q2 office statistics showing that overwhelming demand has driven the market vacancy rate to its lowest level in eight quarters.
Migration of America’s top talent to cities like Fort Lauderdale, Boca Raton, Palm Beach and Miami is driving rents upward and making South Florida’s office market the hottest it has ever been.
As previously reported by Bisnow, in recent years, heavy hitters such as Apollo, Babylon and Citadel have followed this pool of talent to South Florida.
Other big-league fintech players making headway in South Florida include Microsoft Corp. and Thomas Bravo. Both firms moved into 830 Brickell in Miami.
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