Broward County is drawing office tenants from Miami-Dade as companies weigh rising rents against where their employees live. Five businesses relocated north in the third quarter, according to a Blanca Commercial Real Estate report. Lower occupancy costs, a growing workforce and investment in existing buildings are strengthening Broward’s appeal across South Florida.
Key takeaways
- Five companies moved from Miami-Dade to Broward in the third quarter; four were identified publicly.
- Broward’s average triple-net office rent was $29.51 per square foot, compared with $70.51 in Miami-Dade.
- Broward recorded 728,000 square feet of leasing activity, its busiest quarter since late 2021.
The moves reflect both the search for more affordable offices and employers’ efforts to locate closer to workers. Some businesses are also reconsidering large, centralized offices in favor of smaller locations across the region.
Companies are following workers north
General contractor Brasfield & Gorrie is moving from a roughly 5,500-square-foot Coral Gables office to more than 19,000 square feet at Weston Pointe I in Weston. The lease was signed in September, with the company expecting to move in by 2027. The firm said the new location will better serve its employees, clients and communities across the tri-county area.
Other businesses identified as relocating to Broward were NewEdge Wealth, the law offices of Alexandra Linder and Altura Capital. One additional company was not identified in the report.
Miami-Dade’s affordability challenges are contributing to the shift. The county lost more than 10,000 residents between 2024 and 2025, according to Census Bureau figures cited in the report. IRS migration data also showed Broward gained more than 16,000 residents from Miami-Dade between 2022 and 2023.
Rent gap gives Broward an edge
Blanca CRE reported average triple-net office rent of $29.51 per square foot in Broward, up 6.5% year over year. Miami-Dade’s average stood at $70.51 per square foot, an annual increase of 13.3%. Brokers say the substantial cost difference can make Broward attractive to companies seeking value, particularly when employees have already moved north in search of more affordable housing.
Brokers and landlords also describe a growing preference for distributing office space across markets. Some companies that initially sought about 25,000 square feet have scaled back to roughly 10,000 to 12,000 square feet in one location, allocating the remaining space to another market.
Investment and new construction add momentum
Broward recorded 728,000 square feet of leasing activity in the quarter, with renewals accounting for 55% of the total. The report characterized it as the market’s strongest quarter since the end of 2021. Industry observers attributed some of the activity to new investment in existing properties.
Two downtown Fort Lauderdale office buildings on Las Olas Boulevard sold for more than $200 million each last year, with buyers planning significant renovations. Meanwhile, Hines and Urban Street Development are building T3 FAT Village, a six-story, 180,000-square-foot office project in Flagler Village. It is expected to be Broward’s first new office building in six years when completed.
Together, lower rents, population shifts and renewed investment are positioning Broward as an increasingly competitive alternative to Miami and Palm Beach. Market participants say the county’s steady performance has sometimes been overshadowed by its neighbors’ headlines, but its recent leasing and development activity suggest it merits closer attention.