Location is a major factor that contributes to property values, and the same is true of the value of your office to your business. When you search for a place to work, you have to ask yourself a few questions:
Can my business thrive in that neighborhood?
Will I be able to establish professional relationships with local businesses?
Does the neighborhood attract the right co-workers and talent?
If you plan to get an office in South Florida, Coral Gables is the ideal spot. You can answer “Yes” to the above questions when you decide to move your business to this city, which is just outside of Miami.
The Strong Competition for Coworking Spaces in South Florida
On the heels of New York City and San Francisco, Miami has been developing one of the largest inventories of coworking spaces in the country. The entire South Florida area has grown faster than the national average metropolitan area in regard to coworking leases.
Miami has the third-highest concentration of coworking companies. In just the first quarter of 2019, businesses leased 270,000 square feet of shared workspaces, which is more than they leased in seven of the last nine years. As a total commercial stock percentage, 2.7% of its 50.5 million square feet of space consists of shared workspaces. By comparison, 1.7% of Manhattan’s commercial stock consists of coworking spaces.
With such a high concentration of businesses moving into Miami, though, there are benefits of searching for coworking space outside of the city. Let’s take a look at why Coral Gables is the ideal location.
Why Coral Gables Is the Best Location
It only makes sense for Coral Gables to become the next city to cultivate a new generation of professionals who operate out of shared workspaces. The Mediterranean Revival architecture and European-style layout provides an elevated and professional environment to conduct business with ease. With great career prospects and award winning walkability that puts businesses and clients much closer to each other, the city is one of the top five commerce centers in South Florida. In fact, Coral Gables’ top industries are professional, scientific and technical services.
Coral Gables’ central location is also ideal for businesses looking to relocate; the neighborhood is less than 15 minutes from Miami International airport, and is close to major highways and other economic hubs like Downtown Miami and Miami Beach .
Florida is leading the United States in hosting the biggest increase in non-employer businesses. It’s the result of freelancers and solo businesses making South Florida their home. According to Fiverr, the number of freelancers and other independent workers grew more than 23% in the area between 2011 and 2015.
Part of the reason is that the state has lower taxes compared to the national average. However, lower taxes and warm weather aren’t the only reasons to move your business to Coral Gables.
Affordable Coworking Space and Networking Opportunities
Starting and moving a business can cost quite a bit, especially if you want your shared workspace within Miami. By looking for coworking space in Coral Gables, you can save a lot on your lease.
On top of that, you have the chance to network with other professionals and businesses because you’re working in a legacy community with roots and access to events. For example, the Coral Gables Chamber of Commerce boasts over 20 different committees and 1600+ members. The Women’s Chamber of Commerce is also based in the city, and many other professional organizations choose to meet regularly in Coral Gables.
There’s no hassle when it comes to setting up your office too. The coworking community already has electricity, Wi-Fi, and office furniture, supplies, and top tier IT infrastructure provided by the city.
The Perfect Balance of Work and Play
Something that most people don’t consider when moving their business is the option for fun after work hours. In Coral Gables, you have the chance to grab a cold beverage and good meal after a week of work. Giralda Plaza and Miracle Mile, two of Coral Gables’ main pedestrian-friendly promenades, host some of the city’s top restaurants and bars. Whether it’s tapas and sangria at Bulla Gastrobar, poke bowls at Pokebar, or tacos and bowls at Coyo Taco, there is someone for everyone.
Additionally, the city and various organizations host events and festivals throughout the year, and some of them recur every week or month. Including the famous Farmers Markets, food and wine festivals, Carnaval on the Mile, Giralda Plaza “Under the Stars,” exclusive screenings at the Coral Gables Art Cinema, and much much more.
Downtown Coral Gables Workspace
FORUM is a new membership space in Downtown Coral Gables that offers various coworking offerings created to suit the needs of entrepreneurs, freelancers, startups and enterprise businesses. From hot desks to private suites, business support and more, FORUM is ready to support our community in these times. Contact us to learn more [email protected] | 786-522-4466.