Blanca Commercial Real Estate CEO Tere Blanca and DaGrosa Capital Partners Chair Joe DaGrosa speak to Fox News Digital about how a California commercial exodus has followed a residential one to the Sunshine State.
While major metropolitan areas across the country continue to struggle with vacant office space, Florida’s pro-business climate is pushing office attendance above pre-pandemic levels.
According to recent data from Placer.ai’s monthly Office Index, Miami ranked as the leading major metro for return-to-office performance in June 2026, with estimated office visits surpassing 2019 levels.
Additionally, Miami secured the No. 1 position nationwide for post-pandemic return-to-office recovery in five of the last six months, with New York ranking second during those same periods.
“Miami leading the country in office attendance is a clear sign we’ve become a genuine second center of gravity for business and finance,” Blanca Commercial Real Estate founder and CEO Tere Blanca told Fox News Digital. “This is decades of investment in the region finally compounding, on top of companies giving employees a real say in where they want to build their careers.”
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“Businesses initially come to Miami for the business-friendly environment and tax benefits Florida offers. Then they stay for the convenience of airport connectivity with so many domestic and international flights, talent they can hire locally or relocate here, and a quality of life that’s hard to match, including feeling safe,” she continued. “That’s what turns a visit into a lease, and a lease into a regional office, or in some cases, a full headquarters relocation.”
Fresh data shows that Miami has outpaced New York City in return-to-office levels for the past five out of six months. (Getty Images)
Last week, Blanca Commercial Real Estate released its second-quarter Miami-Dade County Office Snapshot, noting that South Florida’s commercial real estate market continues to evolve from attracting initial corporate relocations to supporting companies’ expanded local presence.
The firm’s research found that companies including Amazon, Blackstone, IRU, and Simpro Group have expanded their commercial footprints in Miami since their initial entry into the market.
“Companies that landed here since 2020 are now doubling and tripling down. IRU is one of my favorite examples. The tech firm grew from a small sublease in Coconut Grove to more than 25 times its original footprint in under two years, after announcing Miami as its new East Coast headquarters,” Blanca told Fox News Digital.
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Blanca CRE analysis also shows Miami’s premier submarkets are exhibiting structural characteristics similar to established Manhattan corridors, where locations like Park Avenue, Grand Central and Hudson Yards command asking rents from $90 to over $100 per square foot, with top trophy properties reaching $300 to $320 per square foot.
“Companies are also still in a flight to quality. If they’re asking people to come back to the office full time or on a hybrid schedule, they want space that feels like an upgrade from home,” she added, “and that’s why you’re starting to see our best buildings command rents that get compared to Park Avenue or Hudson Yards.”
The data shows that secondary Manhattan submarkets command asking rents in the $60s and $70s per square foot, aligning closely with Miami-Dade’s broader county average.
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Corcoran Group CEO Pamela Liebman speaks exclusively to Fox News Digital about a historic residential project in Miami’s Design District, and the overall real estate boom across the local market.
“It’s never been Miami versus New York. Even across the whole region, our Class A and B office market is a fraction of the size of what Manhattan has. It’s nowhere near the scale at which companies operate there,” Blanca said.
“Firms are clearly prioritizing real estate diversification right now, and that’s why we’re seeing more tours from New York companies looking for additional space down here. They want a presence in more than one city, not necessarily a full replacement for the one they already have. Miami is a complementary market, not a competing one. But based on what we’re seeing on the ground, I’ll just say this — keep watching, because more companies from New York are coming.”
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