For those of us young enough to remember, the Miami Skyline of just 20 years ago was defined by two landmark buildings of the time. First there was the Southeast Financial Center which stood as the tallest building in Miami, and the Centrust Building (now the Miami Tower) which has forever lit the Miami skyline in various colors to commemorate the moment.
In just two short decades Miami has come well on its way to repositioning itself as not just a playground destination, but rather a corporate landscape where multinational companies feel compelled to plant their corporate flag. It’s a well known fact that Miami has hosted international banks and Latin American corporate headquarters for decades, hence the Brickell Financial District as an example. However, the Magic City is now attracting a new breed of business from both U.S and abroad. Miami has an emerging tech industry that, although slowly brewing, is certainly in existence and gaining momentum.
A testament to Miami’s expanding tech industry is the eMerge Americas event held in Miami Beach (www.emergeamericas.com). The venue brings together the entire spectrum of the industry, including startups, entrepreneurs, corporate enterprises, higher-education, and investors to name a few. The goal of the event is to share Miami’s growth to the world, while attracting the best and brightest talent and tech industry participants.
Miami's young, but emerging tech industry, will forever redefine the City of Miami and finally cement it as a world class market choice for the tech industry. Education providers in South Florida, such as the University of Miami (U.M.) and Florida International University (FIU) to name two, have been working diligently in developing top tech education and research programs with the goal of attracting and retaining bright minded students that will use their talents to feed both start-up and well established firms considering Miami as a branch location or better yet as corprate headquarters.
The natural outcome to Miami's emerging tech boom is expected to favor all of Miami's commercial real estate sectors (i.e. office, industrial, retail, and multifamily). Stay tuned to upcoming posts that will provide data analysis and forecasts on the various commercial real estate asset classes that make up the Miami market.