Miami-Dade Office Market Report

Core demand holds firm. The metro’s office vacancy receded further in the first half of 2026, falling 40 basis points to 10.4 percent. Tenants continued to favor premium Brickell offices, while Downtown benefited from firms seeking larger contiguous blocks of space. Vacancy in the latter area declined 120 basis points year to date to 17.1 percent, as accounting, legal, and corporate tenants found more options here. Brickell stayed tighter at 13.3 percent vacancy, despite an 80-basis-point rise tied to move-outs at older offices. Trophy space still drew high-profile tenants, including Google and Thiel Capital, the latter taking 18,000 square feet in July at a Miami-record $250 per square foot.