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While many national markets grappled with prolonged uncertainty, Miami-Dade experienced sustained and robust growth. Overall asking rents increased from $40.14 in Q1 2020 to $65.01 on a full-service basis in Q4 2025—a 62% rise over five years. However, this growth has not been evenly distributed across the market. Instead, it has exposed a widening divide between conventional office product and premium assets.
While median rents increased a solid 41% (from $38.40 to $54.24), the 90th percentile surged 70%, climbing from $53.99 to $91.98.
This divergence is emblematic of the flight-to-quality phenomenon. Tenants are no longer merely leasing office space; they are competing for “attendance-worthy” environments defined by modern construction, premium amenities, and prime locations. This trend is most pronounced in Miami’s premier submarkets. Brickell Tier I asking rates now average $122.89, while asking rents for newly delivered trophy assets have reached as high as $180 on a full-service basis.
Conclusion
Taken together, these trends reinforce a market increasingly defined by quality stratification. Best-in-class assets continue to set new pricing benchmarks, while older and undifferentiated product faces growing pressure to compete on concessions, flexibility, or repositioning. As Miami moves into its next cycle, the sustained pricing power at the top of the market suggests that demand for premier office environments is not cyclical noise, but a structural shift—one that will continue to shape leasing behavior, capital allocation, and development decisions in the years ahead.
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