{"id":10081,"date":"2025-02-20T14:13:14","date_gmt":"2025-02-20T19:13:14","guid":{"rendered":"https:\/\/www.lee-associates.com\/southflorida\/?p=10081"},"modified":"2025-02-21T10:27:30","modified_gmt":"2025-02-21T15:27:30","slug":"office-industry-experts-see-mixed-uses-as-key-in-citys-core","status":"publish","type":"post","link":"https:\/\/www.lee-associates.com\/southflorida\/2025\/02\/20\/office-industry-experts-see-mixed-uses-as-key-in-citys-core\/","title":{"rendered":"Office Industry Experts See Mixed Uses as Key in City’s Core"},"content":{"rendered":"
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Miami Today Discusses Brickell & Downtown Miami Office Market with Lee & Associates South Florida Principal, Bert Checa<\/h3><\/div><\/div>
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'Office industry experts see mixed uses as key in city\u2019s core'<\/h1>\n
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By Abrahan Galvan\u00a0\u2013\u00a0<\/span> Miami Today<\/div>\n
February 20th, 2025<\/div>\n

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Focusing on mixed-use projects that combine office space with residential, hotel, and other components is the trend to secure financing in the Brickell area, according to local office space developers.<\/p>\n

The key considerations for developers when deciding between mixed-use and office-only projects in the current market are that mixed-use projects that include residential components do not require the same level of pre-leasing commitments for office space as office-only projects, said Bert Checa, principal at Lee & Associates South Florida.<\/p>\n

\u201cThere is more uncertainty around long-term office space needs, making it challenging for office-only projects to secure enough pre-leasing commitments from tenants,\u201d he said. \u201cMixed-use projects that offer a variety of uses are seen as more appealing and adaptable. The high construction costs in the Brickell area can be better justified by the higher rental rates that mixed-use projects with residential and other components can command compared to office-only projects.\u201d<\/p>\n

Brickell\u2019s walkability, proximity to restaurants and entertainment, and overall appeal as a live-work-play environment also make mixed-use projects more attractive to both tenants and developers, Mr. Checa added.<\/p>\n

\u201cThe key points comparing development trends and rental rates between Brickell and downtown Miami include Brickell is seeing more development activity, as the higher rental rates in Brickell can justify the higher construction costs,\u201d he continued. \u201cDevelopers are able to absorb and justify the costs in the Brickell market, whereas Downtown Miami is seeing less development due to lower rental rates and higher construction costs, making it more challenging for projects to be financially viable.\u201d<\/p>\n

Brickell has become the new financial hub of South Florida, attracting wealth management firms, law firms, and other businesses that value the walkability, amenities, and proximity to competitors in that area, he said. \u201cDowntown Miami still struggles with issues like homelessness and vacant storefronts, making it less appealing for development compared to the more vibrant Brickell neighborhood.\u201d<\/p>\n

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About Lee & Associates South Florida<\/strong><\/h3>\n

Lee & Associates South Florida is a fully vertical commercial real estate brokerage firm focused on industrial, office, retail, multifamily, investment and land sectors. Our dedicated team of professionals is led by Matthew Rotolante, CCIM, SIOR a 4th generation South Florida native in a family that has owned and operated commercial property here since 1928. Lee & Associates is the largest agent owned brokerage in the nation with Senior Agent\u2019s ability to earn profit share resulting in the highest splits while still receiving full resources, support and leads from our national network. Our collaborative and cheerful culture allows for open communications throughout the company, fostering the sharing of information and best practices to better enable client decision making.\u00a0 The Lee & Associates\u2019 robust national network that sold and leased over $115 Billion in the last 5 years offers clients a cross-market platform of expertise and deal opportunities across all asset specialties and representation roles. For the latest news from Lee & Associates South Florida, visit leesouthflorida.com<\/a>\u00a0or follow us on\u00a0Facebook<\/a>,\u00a0LinkedIn<\/a>,\u00a0Twitter<\/a>\u00a0and\u00a0Instagram<\/a>, our company local news<\/a>.<\/p>\n

About Lee & Associates<\/strong><\/h3>\n

Lee & Associates is a commercial real estate brokerage sales, leasing and management firm. Established in 1979, Lee & Associates has grown its service platform to include over 75 offices\u00a0in the United States and Canada. Lee & Associates is the largest agent owned commercial real estate brokerage where agents get the greatest return for their efforts and hence are more committed and better enabled to provide superior results for their customers. \u00a0For the latest news from Lee & Associates, visit\u00a0lee-associates.com<\/a>\u00a0or follow us on\u00a0Facebook<\/a>,\u00a0LinkedIn<\/a>,\u00a0Twitter<\/a>\u00a0and\u00a0Link<\/a>, our company blog.<\/p>\n<\/div>\n<\/div><\/div><\/div><\/div>

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\n\t\t\t\n\t\t\t\"Lee\n\t\t\t<\/a><\/div>\n\n<\/div><\/div><\/div><\/div><\/div><\/div>","protected":false},"excerpt":{"rendered":"

‘Office industry experts see mixed uses as key in city\u2019s core’ By Abrahan Galvan\u00a0\u2013\u00a0 Miami Today February 20th, 2025   Focusing on mixed-use projects that combine office space with residential, hotel, and other components is the trend to secure financing in the Brickell area, according to local office space developers. The key considerations for developers when deciding between mixed-use and office-only projects in the current market are that mixed-use projects that include residential components do…<\/p>\n","protected":false},"author":76,"featured_media":9423,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,107],"tags":[1845],"class_list":["post-10081","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-office","tag-bert-checa"],"yoast_head":"\nOffice Industry Experts See Mixed Uses as Key in City's Core - Lee & Associates South Florida<\/title>\n<meta name=\"description\" content=\"Miami Today Discusses Brickell & Downtown Miami Office Market with Lee & Associates South Florida Principal, Bert Checa\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lee-associates.com\/southflorida\/2025\/02\/20\/office-industry-experts-see-mixed-uses-as-key-in-citys-core\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Office Industry Experts See Mixed Uses as Key in City's Core\" \/>\n<meta property=\"og:description\" content=\"Miami Today Discusses Brickell & Downtown Miami Office Market with Lee & Associates South Florida Principal, Bert Checa\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.lee-associates.com\/southflorida\/2025\/02\/20\/office-industry-experts-see-mixed-uses-as-key-in-citys-core\/\" \/>\n<meta property=\"og:site_name\" content=\"Lee & Associates South Florida\" \/>\n<meta property=\"article:published_time\" content=\"2025-02-20T19:13:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-21T15:27:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.lee-associates.com\/southflorida\/wp-content\/uploads\/sites\/62\/2024\/01\/PR-Banner-Miami-Today_Bert-Checa.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1250\" \/>\n\t<meta property=\"og:image:height\" content=\"521\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"ssabatier\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"ssabatier\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/southflorida\\\/2025\\\/02\\\/20\\\/office-industry-experts-see-mixed-uses-as-key-in-citys-core\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/southflorida\\\/2025\\\/02\\\/20\\\/office-industry-experts-see-mixed-uses-as-key-in-citys-core\\\/\"},\"author\":{\"name\":\"ssabatier\",\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/southflorida\\\/#\\\/schema\\\/person\\\/d5447dfddeb31f214f5f2eb84c74068a\"},\"headline\":\"Office Industry Experts See Mixed Uses as Key in City’s Core\",\"datePublished\":\"2025-02-20T19:13:14+00:00\",\"dateModified\":\"2025-02-21T15:27:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/southflorida\\\/2025\\\/02\\\/20\\\/office-industry-experts-see-mixed-uses-as-key-in-citys-core\\\/\"},\"wordCount\":659,\"image\":{\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/southflorida\\\/2025\\\/02\\\/20\\\/office-industry-experts-see-mixed-uses-as-key-in-citys-core\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.lee-associates.com\\\/southflorida\\\/wp-content\\\/uploads\\\/sites\\\/62\\\/2024\\\/01\\\/PR-Banner-Miami-Today_Bert-Checa.png\",\"keywords\":[\"Bert Checa\"],\"articleSection\":[\"All News\",\"Office\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/southflorida\\\/2025\\\/02\\\/20\\\/office-industry-experts-see-mixed-uses-as-key-in-citys-core\\\/\",\"url\":\"https:\\\/\\\/www.lee-associates.com\\\/southflorida\\\/2025\\\/02\\\/20\\\/office-industry-experts-see-mixed-uses-as-key-in-citys-core\\\/\",\"name\":\"Office Industry Experts See Mixed Uses as Key in City's Core - 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