Commercial properties in the Miami-Dade area are taking on a new look and getting a whole lot more diverse, according to a recent South Florida Market report. The survey showed that one of the largest leasing deals for Miami-Dade this past year was a 37,000 square foot building on Lincoln Road, which was leased to the company WeWork. This business was founded five years ago in New-York in order to facilitate the use of shared workplaces for essentially any type of company, but is most commonly used by startups, private contractors, small firms, and international corporations looking for a satellite office. The firm was recently valued at $5 billion and has expanded outside of the big apple and into other major cities across the country, and now with this new building will be adding Miami to the list. This decision was motivated by the city’s “growing entrepreneurial market” and it’s current status as “a gateway to Latin America”, as head of real estate for WeWork Mark Lapidus remarked in an interview recently. While trying to expand their brand Miami seemed like a natural choice for a new location, according to Lapidus, “As we build out our global network with location in major global cities, Miami of course is on our map.”

This is not the first instance of the shared office space concept making an appearance in Miami, local developers have been seeing lots of success with the innovate setup since 2010. The demand for this type of layout is very high across the country, but particularly in a major metro area where businesses are jostling for position and regularly moving locations. These more temporary office spaces appeal to these businesses, and even allow for multiple companies with interconnected client bases to actually share customers. For instance, if a gym, a fitness apparel shop, and a salon were all to move into one of these properties they would very likely gain new customers just by being so conveniently located to one another. And even companies who aren’t interested in collaboration are drawn to these co-working spaces because they provide prime commercial real estate at a lower cost and without all the commitment, as they typically offer short-term lease and sometimes don’t require a lease at all. This new type of office space is rapidly growing in popularity throughout Miami, with more and more businesses opting to settle in types of buildings and demand increasing rapidly.

Commercial properties are already very sought after throughout South Florida because the area provides businesses with both a thriving local economy and easy access to a more global market. With demand on the rise, now is the time to invest in one of the amazing properties currently available, as the Miami-Dade commercial real estate market is among the fastest growing nationwide and has new listings appearing daily. Contact RE/MAX Paradise today and one of their professionally trained real estate agents will help you find the property of your dreams!