Swire Nixes Plans For Office Supertall In Brickell

It looks like Swire’s decision to scrap the office supertall in Brickell reflects growing uncertainty about the future of South Florida’s office market.

The shift in focus to a hotel and condo project on Brickell Key instead of the ambitious office tower suggests they’re adapting to current market conditions, where demand for office space might not be as strong as it once seemed.

The challenges in securing pre-leases for the One Brickell City Centre tower highlight how even big, high-profile projects can struggle in an uncertain market, especially after the pandemic reshaped the demand for office spaces.

With Miami’s office market previously booming, driven by the influx of out-of-state businesses and high office rents, it’ll be interesting to see how the market evolves. Do you think the office market in South Florida will bounce back in the next few years, or do you think the trend of remote and hybrid work will continue to impact demand for office space long-term?