According to the Miami-Dade County Property Appraiser’s Office, the countywide taxable value for 2025 increased by 10.7%, reaching approximately $471.5 billion. While this represents a significant sum, it is a deceleration compared to the 12.7% growth recorded in 2024.
The 2.8-acre parcel, located at 700-799 Brickell Avenue, was once slated to become the One Brickell City Centre, a 1,000-foot-tall office tower. However, Swire scrapped those plans earlier this year, citing difficulties in the current office market.
According to a recent report, Miami recorded the lowest office vacancy rate among the top 25 U.S. markets in Q1 2025, at 15.5%. Miami also stood out as the second-strongest market in terms of high sales prices.
Additionally, it led the nation in net international migration, gaining 123,835 people from abroad.
The new space will accommodate 45 lawyers and business professionals specializing in corporate law, taxation, wealth management, investigations, litigation, arbitration, international trade, and global migration.
Varonis has leased 17,900 square feet at 801 Brickell, which will serve as its new headquarters.
The firm has placed the 2.8-acre dev site on the market.
The new High Impact Film Fund program includes annual incentives of up to $10 million.
The prime location offers the potential for constructing a supertall building.
As borrowing becomes more affordable, construction costs stabilize, and market liquidity improves, many investors, currently sitting on significant dry powder, are eager to re-enter the market.