Amazon has taken the lease on a new office in Miami, which will mean 60 new jobs in the city.
The e-commerce giant has leased nearly 9,000 square feet of office space at a WeWork In. building in Coral Gables, a Miami-Dade County city.
The company already has staff from Prime Video and Amazon Web Services in the space and is now relocating more staff from Latin America.
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Amazon is in the process of hiring more than 60 new employees in Miami, bringing the total number of jobs in the city to around 160. This office signifies the company’s major corporate commitment in South Florida.
While the Seattle-based company’s presence in Miami is still small by Amazon’s standards, it is the latest in a long line of tech and financial firms that have relocated or opened new satellite offices in the Miami area.
They have been drawn by lower taxes, the amazing weather, and a more business-friendly environment than most states.
Large tech-focused venture capital and private-equity firms like SoftBank and Thoma Bravo have also migrated to the area.
Most recently, Apollo Global Management leased 23,000 square feet of office space in Miami’s 701 Brickell.
Grant Killingsworth, a Senior Vice President at CBRE said: “About a third of the tenants who are actively looking for office space in the region are new to South Florida, or five times the 10-year average “
“The majority of the tenant growth that’s been happening through the Covid pandemic has been financial service firms and technology companies,”.
Miami was among 20 nominated cities when Amazon went in search of another headquarters, the company has said, but it eventually lost to Arlington.
While office space in Miami is less expensive than in New York City, prices have risen by as much as 30% in the last two years in areas such as the Brickell area, where some of the top-tier Class A buildings are asking between $70 and $100 per square foot and up to $150 per square foot for certain unique spaces.
Source: Wall Street Journal
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