---
title: "Miami’s Office Leasing Jumps Nearly 45% in Q2"
url: https://burnaze.com/article/1918bf1d-fbca-4a35-8c15-5a63b279afab
source: "Commercial Observer"
original_url: https://commercialobserver.com/2026/07/miami-office-q2-2026-pura-vida-planet-fitness/
author: "Julia Echikson"
category: "Coffee & tea"
industry: "Restaurants"
segment: "Coffee & tea"
published: 2026-07-01T16:15:06.000Z
modified: 2026-10-31T13:17:20.741Z
image: https://commercialobserver.com/wp-content/uploads/sites/3/2026/07/Brickell-Miami-offices-GettyImages-2268679416-WEB.jpg?quality=80&resize=1200%2C630&strip=
---

# Miami’s Office Leasing Jumps Nearly 45% in Q2

**TL;DR:** Miami-Dade County's office market is strong, with leasing activity jumping nearly 45% year-over-year and record-high rents, driven by demand from companies such as family offices and technology firms. The average asking rent climbed to $67.12 per square foot, with some areas reaching as high as $99 per square foot.

*By Julia Echikson, originally published in Commercial Observer on 2026-07-01. [Read the original](https://commercialobserver.com/2026/07/miami-office-q2-2026-pura-vida-planet-fitness/).*

## Story

Miami-Dade County’s office market remains strong as companies compete for premium office space, pushing rents to record highs as vacancy continues to tighten.

Availability fell to 14.9 percent, down from 17.1 percent a year ago, during the second quarter of 2026, according to data from **Savills**. Leasing activity jumped to 1.3 million square feet, increasing by nearly 45 percent year-over-year. The average asking rent climbed to $67.12 per square foot, up 7 percent from a year earlier and nearly 57 percent higher than five years ago.

The Airport West, Downtown Miami and Coral Gables submarkets accounted for the largest share of leasing activity. Some large transactions included cafe chain **Pura Vida** relocating its corporate office from Sunset Harbour to the **Gateway at Wynwood** building, where it leased 26,982 square feet, as well as **Planet Fitness** taking 26,207 square feet within the **Omni Center** at **1501 Biscayne Boulevard**.

Family offices, financial firms, technology companies, law firms — many of them new to the Miami-Dade market — are driving the bulk of the demand at the top end of the market.

Miami Beach and Coconut Grove — sought-after residential neighborhoods, where well-paid executives typically live — also boasts the county’s most expensive office rents, which average roughly $99 per square foot. Countywide, rents for Class A buildings rose by 6 percent year-over-year to $80.85 a square foot, reflecting demand for new, amenity-rich properties.

Just this month, the family office of billionaire **Peter Thiel**, a **PayPal** co-founder and early **Facebook** investor, signed an 18,158-square-foot lease at Miami’s **830 Brickell**, paying $250 per square foot, according to *Bloomberg*. The price is Miami-Dade County’s most expensive office lease, rivaling rents commanded by some of Manhattan’s premier office towers.

Developers of new, luxury buildings are taking note. The office space at the **Well**, **Terra**’s mixed-use development in Bay Harbor Islands, is being marketed at about $175 per square foot triple-net. More is in store. Thirteen office projects, amounting to about 2.5 million square feet, remain under construction.

## Entities

- General (sector)
- Facebook (company)
- Planet Fitness (company)
- Commercial Observer (publication)
- market trends (topic)
- Julia Echikson (person)
- PayPal (company)
- Miami-Dade County (location)
- office leasing (topic)
- Savills (company)
- The Well (location)
- commercial development (topic)

---
Originally reported by Julia Echikson, Commercial Observer (https://commercialobserver.com/2026/07/miami-office-q2-2026-pura-vida-planet-fitness/). Summarized by Burnaze (https://burnaze.com/article/1918bf1d-fbca-4a35-8c15-5a63b279afab).