Peter Thiel Signs $250-Per-Square-Foot Miami Lease as Tech Firms Shift South

1 articles · Updated · Fox Business · Jun 30

$250 per square foot set a Miami record as Peter Thiel leased office space at 830 Brickell, a move local executives say signals tech migration to Florida is expanding from home purchases to corporate operations.
Florida's no-state-income-tax model and California's proposed billionaire wealth tax are helping drive the shift, with advisers pointing to looming liquidity events at SpaceX, OpenAI and Anthropic as another catalyst.
830 Brickell already houses Citadel, Microsoft and Thoma Bravo, and brokers say top-tier Brickell rents have jumped from roughly $40-$60 per square foot before the pandemic to rates now rivaling Manhattan and San Francisco.
Miami-Dade tech employment has grown about 25% in recent years, though the influx is also straining housing supply and traffic as officials push faster permitting and workforce-housing projects.