September 29, 2023
ATS Miami Feb 2023
The financial district in downtown Miami is still a coveted development destination.

Photo: iStock

ATS Miami Feb 2023
Real-time gaming and metaverse building platform Mirror's founder and CEO/CTO Jared McCluskey.

Photo: The Mirror

ATS Miami Feb 2023
Free, on-demand electric vehicle startup Freebee has raised $8 million, says the company's co-founder and managing partner Jason Spiegel.

Photo: Freebee

ATS Miami Feb 2023
Miami-based Togal.AI, a software startup bringing artificial intelligence to construction estimating work, won first place in the Start-Up City division of the world's largest construction technology competition: The Big 5 Global.

Photo: Togal.AI

Miami-Dade Roundup

Prime Location: Miami

Miami's office market gains top status among investors.

| 2/15/2023


“Miami has arrived as a gateway primary market,” says New York-based Lauren Hochfelder, co-CEO of Morgan Stanley Real Estate Investing and its $55-billion portfolio. Speaking at the Urban Land Institute’s Florida Summit in Miami in December, she also said Miami’s Class A trophy office buildings are drawing interest because office utilization — an indication of how many people have returned to their pre-COVID workplaces and a reflection of office market health — is about 80% to 86% in Miami but only half that in New York and San Francisco.

Status as a primary/gateway market means more than bragging rights. Some major investors have internal rules about what types of markets they invest in. Primary/gateway markets attract greater investor interest with their reputations for being among the nation’s economic leaders, their large population bases, amenities and oversized contribution to GDP and for innovative and educated workforces and expensive housing — as in Chicago, Los Angeles, New York, San Francisco, Seattle and Boston. Whether a market is gateway/primary or secondary influences what investors expect in prices and returns.

While economic conditions are leading investors and lenders to be more cautious, Florida is well positioned, real estate leaders told the summit audience. Jonathan Pollack, a senior managing director for Blackstone in New York, said the investing world is well aware that Miami has “critical mass” and that Gov. Ron DeSantis and other state and local leaders are “playing to win” when it comes to Florida recruiting companies and growing its economy. — By Mike Vogel


  • Jared McCluskey, founder and CEO/CTO of the Mirror, a real-time gaming and metaverse building platform, announced that the startup raised $2.3 million, led by Founders Fund, with participation by Konvoy Ventures, Abstract Ventures, Florida Funders, Palm Tree Crew VC and angel investors.
  • Miami-based Numatec is expanding its subsidiary EKN to Spain, Panama, Ecuador and Colombia. EKN provides access to digital advertising services. The company will establish a leadership team and physical presence in each new market.
  • Miami is No. 23 of the 50 best U.S. cities for tech workers, according to EdWize, an online education and e-learning site. Miami ranked 10th best in broadband internet speed and 13th for tech jobs per person, but 39th for salary and 11th highest for rent.


  • Avison Young’s Florida Capital Markets Group was selected to sell Malaysian gambling operator Genting Group’s 15.5 acres of Biscayne Bay frontage — most of which is the Miami Herald’s former site — as a development opportunity. The property is described as the most desirable development site ever offered in Miami and one of the largest waterfront land assemblages available at the time in the nation.
  • Altman Cos. is building an apartment community in Kendall after securing the land and a $75-million construction loan. The development firm, led by Joel Altman and Seth Wise, paid $14.3 million for nearly 12 acres formerly owned by Baptist Hospital of Miami. The 342-unit project is scheduled for completion in 2024.


  • Aspen Ideas: Climate returns to Miami Beach March 6-9 to engage global policymakers, scientists, corporate leaders, inventors and others in addressing climate change.


  • The U.S. Army Corps of Engineers granted Florida International University $3.2 million to research 3-D printing of ultra-high-performance concrete. The research is aimed at helping military personnel and industry professionals create extra-strong, customized structures on demand. The material is designed to be more durable than traditional concrete and less vulnerable to corrosion by saltwater, says Atorod Azizinamini, director of FIU’s Moss School of Construction, Infrastructure and Sustainability.


  • Keith Grossman, immediate- past president of Time magazine, has joined Miami crypto payments infrastructure startup MoonPay as president of its enterprise division. During Grossman’s tenure at Time, the magazine incorporated digital assets into its operations, accepting crypto for payment and launching a collection of NFTs of original art.
  • Miami fintech company Novo, which has developed a platform for small businesses, has secured $35 million from venture capital firm GGV, bringing its total raised to $125 million. GGV principal Robin Li is joining Novo’s board.

Tags: Miami-Dade, Feature

Florida Business News

  • Florida’s population boom drives bigger hurricane losses, despite tougher building codes

    Florida leads the nation in strict building codes, and the decades of hard work have paid off in the increasing number of homes and buildings that survive each time a hurricane slashes the state. But all those hard-won gains have been undermined by the explosion of growth along the coast.

  • Business BeatBusiness Beat - Week of September 29th

    Get top news-to-know with Florida Trend's headline-focused video news brief, hosted by digital content specialist Aimée Alexander.

  • Enterprise Florida exiting

    The doors are ready to close on Enterprise Florida, the business-recruitment agency long targeted by state House leaders.

  • Seeking protection

    Three activist groups served notice to the U.S. Fish and Wildlife Service that they intend to sue to force the agency to invoke Endangered Species Act protection for the ghost orchid.

  • State jobless claims decrease

    An estimated 5,155 first-time jobless claims were filed in Florida last week, a decrease from the previous week and below the average for the year.

Florida News Releases

Florida Trend Video Pick

Radioactive roads? Florida has yet to submit application to EPA to start testing
Radioactive roads? Florida has yet to submit application to EPA to start testing

It appears no steps have been taken to begin testing whether slightly radioactive waste from fertilizer production can be repurposed for Florida road construction projects.

Video Picks | Viewpoints@FloridaTrend

Ballot Box

Do you believe that home values in Florida have finally peaked?

  • Absolutely!
  • No way!
  • The jury's still out...
  • Other (Let us know in the comment section below)

See Results

Florida Trend Media Company
490 1st Ave S
St Petersburg, FL 33701

© Copyright 2023 Trend Magazines Inc. All rights reserved.