The Weekly Take from CBRE Sunshine: Shaping the Future of Miami
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Mar 3, 2025 Henry Bott, President of Swire Properties USA, has shaped Miami's real estate landscape for decades. Troy Ballard serves as Vice Chairman in CBRE’s multifamily practice, specializing in Florida's market. Together, they discuss Miami's rapid growth and its appeal to international investors. The demand for luxury housing, exemplified by the Residences at Mandarin Oriental, is on the rise. They also examine the changing demographics in Brickell and explore adaptive re-use opportunities in the softening office market.
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Miami's Growing Appeal
- Miami is experiencing a surge in popularity, particularly Brickell, due to significant net inward migration.
- This makes it the right time for Swire Properties to launch its Mandarin Oriental residences project.
A Believer in Miami
- Troy Ballard, CBRE Vice Chairman, shares his personal connection to Miami, having lived there for 30 years.
- He expresses his belief in the city's potential and how his career has thrived there.
Brickell's Demographic Shift
- Brickell's demographic is shifting, attracting younger residents and families who prefer living near work and entertainment.
- This contrasts with Miami's previous image as a retirement destination, indicating a broader transformation.