In an era defined by remote work, where the boundaries of the traditional office have blurred, some South Florida companies have chosen a different path. They’ve embraced growth, expansion, and the power of a physical workspace, even as remote work remains a reality for many.
Their reasons for doing so vary, but a common thread is the need to accommodate a surge in new talent and sustain their operations effectively.
The Top 10 Moves and Expansions of 2023 in South Florida hide
Here, we delve into the stories of ten remarkable companies that made significant moves, both in terms of office size and strategic vision, in the past year.
These expansions represent a testament to the resilience and ambition of businesses in South Florida, showcasing their readiness to adapt and thrive in an evolving work landscape.
Let’s explore the top 10 office expansions in this vibrant region, where growth knows no bounds.
South Florida’s Business Expansion Amidst Remote Work
Despite the prevalence of remote work, several companies in South Florida have defied the trend and significantly expanded their office spaces. These expansions serve various purposes, with one common driver being the need to accommodate a growing workforce.
Here are ten notable examples of companies that have made substantial office expansions in the past year:
Kaseya – Expanding Miami Headquarters
Kaseya, an IT management and software company led by CEO Fred Voccola, made a significant expansion to its Miami headquarters.
They leased an additional 101,871 square feet of office space in the Wells Fargo Center in Downtown Miami, marking a bold move to accommodate growth and support their operations.
GTCR – Expanding in Downtown West Palm Beach
The Chicago-based private equity firm, GTCR, secured additional office space for its future use in the 25-story One Flagler building currently under construction in downtown West Palm Beach.
This expansion reflects their strategic investment in the South Florida region.
Banesco USA – Moving to Doral
Banesco USA, a Florida-chartered bank, made a pivotal shift by relocating its headquarters from a space of 18,000 square feet in Coral Gables to a spacious 60,000-square-foot building at 3155 N.W. 77th Ave. in Doral.
This move reflects their commitment to a larger and more efficient workspace.
Cole, Scott & Kissane (CSK) – Expanding in West Palm Beach
The Florida law firm, Cole, Scott & Kissane (CSK), expanded its office in Esperanté Corporate Center, adding 13,000 square feet to its space in September.
This expansion has boosted the size of its West Palm Beach branch to a substantial 64,000 square feet, accommodating their growing legal practice.
Wells Fargo – Expanding in Boca Raton
Wells Fargo, the San Francisco-based banking giant, has opted to enlarge its future footprint in the 1675 Midtown building in Boca Raton.
Their expansion will increase the space from approximately 25,000 square feet to an extensive 44,000 square feet, underlining their commitment to the South Florida region.
Ultimate Kronos Group, Inc. (UKG) – Expanding Florida Headquarters
UKG, a nationwide software company providing human resources and payroll services, chose to increase its Florida headquarters by an additional 14,072 square feet when renewing its lease in July.
This expansion further solidifies UKG’s presence in South Florida.
Moss & Associates LLC – Choosing a New Headquarters
Moss & Associates LLC, a prominent South Florida construction company, decided to consolidate its operations in Fort Lauderdale’s Cypress Creek area.
They will occupy the entire five-story Park Center building, establishing their new 119,224-square-foot headquarters.
Schonfeld Strategic Advisors – Expanding in Wynwood
Schonfeld Strategic Advisors, a New York-based global hedge fund, expanded its footprint by leasing an additional 18,000 square feet of office space at The Dorsey in Miami’s Wynwood area, bringing their total leased space to 78,000 square feet.
Inspyr Solution – Expanding in Fort Lauderdale
Inspyr Solution, an information technology staffing and consulting company, increased the size of its corporate office in the Radice Corporate Center I building in Fort Lauderdale.
They expanded from 8,500 square feet to an expansive 18,000 square feet, a lease deal that closed in May.
FundKite – Relocating in Miami
FundKite, a fintech company specializing in financing for small businesses, moved to a new 11,452-square-foot office in One Biscayne Tower in downtown Miami in May.
This move followed their relocation from New York to a 5,302-square-foot office at 100 N. Biscayne Blvd. in Miami less than a year prior. These decisions reflect their commitment to the South Florida region and their continuous growth.
The Advantages of Relocating Your Business to Florida
In conclusion, the top 10 office expansions in South Florida highlight the region’s dynamism and the enduring appeal of physical workspaces, even in a world increasingly defined by remote work.
These companies have demonstrated their commitment to growth and adaptability, positioning themselves for a thriving future.
Yet, beyond these individual stories, South Florida’s allure as a business destination is undeniable. Several key advantages make the region an attractive choice for companies looking to relocate or expand:
- Favorable Business Climate: Florida boasts a pro-business environment, including no state income tax, reduced regulatory burdens, and incentives for various industries. This allows companies to reinvest more of their earnings into their growth and innovation.
- Access to Talent: South Florida’s diverse and growing population provides a vast talent pool across various sectors, from technology to finance, healthcare to logistics. Companies can tap into a rich resource of skilled professionals.
- Quality of Life: The region’s exceptional climate, world-renowned beaches, cultural attractions, and overall quality of life make it a compelling destination for employees. This can aid in attracting and retaining top talent.
- Connectivity: South Florida’s strategic location offers global connectivity, with international airports and ports, making it a hub for trade and commerce.
- Economic Growth: The region’s consistent economic growth, even amidst challenges, reflects its resilience and potential for businesses.
As these 10 companies have illustrated, South Florida’s appeal extends beyond its picturesque landscapes; it extends to a vibrant business landscape that welcomes innovation, embraces growth, and offers a world of opportunities.
Whether you’re a local business looking to expand or a company seeking a new home, South Florida’s advantages make it a destination of choice for those looking to build a brighter future.
