Tere Blanca, CEO of Blanca Commercial Real Estate, and Joe DaGrosa, Chair of DaGrosa Capital Partners, told Fox News Digital that the commercial exodus from California is mirroring a residential shift toward Florida.
Although many major U.S. metros grapple with empty office buildings, Florida’s business‑friendly environment is driving office attendance back above pre‑pandemic levels.
Placer.ai’s monthly Office Index shows that Miami led all major metros in return‑to‑office activity in June 2026, with estimated visits exceeding those of 2019.
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.”
Miami’s Cost of Living Now Exceeds New York City’s Despite Florida’s Tax Advantages
“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.”
Recent data indicates that Miami has surpassed New York City in office attendance for five of the last six months. (Getty Images)
Last week, Blanca Commercial Real Estate published its Q2 Miami‑Dade County Office Snapshot, noting that South Florida’s commercial market is shifting from luring initial corporate moves to nurturing expanded local operations.
The firm’s research revealed that Amazon, Blackstone, IRU, and Simpro Group have all grown their Miami footprints since first establishing a presence there.
“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.
Former Miami Mayor Francis Suarez noted that Miami’s consumer price index has risen 36% since 2019, pushing costs above those of New York City. He also spoke about housing affordability for the middle class and the looming crisis in Cuba.
Blanca CRE’s analysis further shows that Miami’s top submarkets mirror the structure of Manhattan’s premier corridors, where areas such as Park Avenue, Grand Central, and Hudson Yards command asking rents of $90 to over $100 per square foot, with prime trophy properties fetching $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 also indicates that secondary Manhattan submarkets have asking rents in the $60‑$70 per square foot range, which closely matches Miami‑Dade County’s overall average.
Pamela Liebman, CEO of the Corcoran Group, spoke exclusively with Fox News Digital about a historic residential development in Miami’s Design District and the broader real estate surge in 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.”
