Office Space News
Latitude One Unveils Plans for Downtown Miami Executive Suites
Published November 19th, 2009 by Jennifer LeClaire
On Wednesday, Latitude One unveiled plans for the build out of two executive suite floors in its soon-to-open building in Downtown Miami. Latitude One is shifting its focus in a down market to cater to what it gauges as a growing demand for affordable and flexible office space.
Specifically, Latitude One is targeting small businesses, downsized companies, displaced professionals, start-ups and international companies looking for a U.S. presence.
The Brickell location, which serves as Miami’s financial district, is ideal for global companies looking for a low-risk expansion strategy in the Gateway to the Americas. The area is home to more than 100 international and domestic financial institutions, the state and Federal courthouses and only 15 minutes from the Miami International Airport.
38 Executive Suites in Downtown Miami
“In the midst of uncertainty in the market, flexibility becomes the key factor for decision makers in terms of office space,” explains Karen Fish-Will, president of Peabody Real Estate, LLC and vice president of Peabody Properties Miami, which manages Latitude One.
“Latitude One has successfully filled a niche with boutique firms, who some say are better positioned financially in this economy, by offering smaller spaces that are big on design with flexible, short-term leasing solutions.”
The two floors will offer 38 executive office suites in Downtown Miami, ranging from 100 to 200 square feet, as well as two conference rooms and a mail-copy room. Latitude One promises tenants can move into a fully-furnished, turnkey executive suite within 24 hours of signing a short-term lease with the flexibility to add or remove portable workspaces.
An Incubator and Hub
Latitude One’s executive suites will offer amenities such as sustainable furniture, Internet, meeting rooms, IT, phone systems and professionally staffed reception. Tenants will be billed once a month for all expenses, including rent and services used.
Latitude One is quickly accessible to all major thoroughfares and only a short walk from the Metrorail and Metromover station. The building offers valet parking, a secured, private parking garage, visitor screening and photo badges upon entry and high-speed elevators. Other on-site amenities include an OXXO concierge dry cleaning service and Pronto Car Wash.
“We are looking at the new, executive suite floors not only as an amenity to Latitude One but also as an incubator and hub for new start up companies,” explains Fish-Will. “Latitude One’s new virtual office lounge will allow local and international companies to use our meeting space facilities and downtown Miami address to further grow their business.”
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Elizabeth Sanchez November 19th, 2009 at 9:51 am
This is a great project. I have seen the photos. Really great addition to Downtown Miami’s office scene when it opens. I think folks who rent office space, whether traditional or executive suites, in this building are going to be really thrilled with the experience from end to end. It’s top notch all the way. Of course, there are lots of other great office buildings coming online in downtown Miami in the first quarter as well. So let the competition begin.
Bill Brookshire November 19th, 2009 at 12:40 pm
I do think this is a sign of the times. Executive suites are becoming part of traditional office developments from the get-go. Rather than leasing a couple of floors to executive suite companies, some developers are taking on the task themselves. I am not sure if they understand the industry well enough to compete with the established players, but there is a proven model in the serviced office industry to follow.