Biscayne Office Space for Rent
The Village of Key Biscayne is an island town in Miami-Dade County, located south of Miami Beach and east of Miami proper. Key Biscayne is bordered by Crandon Park to the north, the Atlantic Ocean to the east, Bill Baggs Cape Florida State Park to the south, and Biscayne Bay to the west. It connects to mainland Miami via the Rickenbacker Causeway, whose construction in 1947 is what first opened the door for large-scale development of Key Biscayne.
Based on 2017 residential data, the estimated population of Key Biscayne is approximately 13,000, with fairly evenly spread age demographics and a large percentage of families and households with children. Key Biscayne’s Venezuelan, Peruvian, Colombian, and Brazilian rank highly within the United States, based on the percentage of the overall population, and this cultural diversity is also reflected in the restaurant and dining scene.
Residents of Key Biscayne have reacted uniquely to the commercial and residential boom that has sparked rapid growth and urbanization across much of Miami in the past 20 years. In 2007, after the construction of several condominium complexes caused the population to skyrocket, the people voted to add an amendment to the village charter, which requires that voters approve all new land use plans. The village council attempted to create another new amendment in 2008 based on the claim that zoning changes were the purview of local government, but it was handily voted down by Key Biscayne residents.
Key Biscayne Office Space | Lease & Data Trends
According to commercial real estate leasing data from Q2 2018, there is just over two million square feet of available Key Biscayne office space for rent, with an additional 235,000 square feet currently under construction. The overall average asking rent in Key Biscayne is just under $43 per square foot. The Class A average asking rent is closer to $54 per square foot.
Key Biscayne is inherently a small market. Its 1.25 square miles of land area and voter-controlled zoning changes can account for the relatively high asking rent in the Village.
What Our Brokers Say About Key Biscayne Office Space for Rent
Key Biscayne is home to a number of large hotel and condominium complexes, including the Ritz-Carlton, the Grand Bay, the Ocean Club, the Towers of Key Biscayne, Casa del Mar, which is the tallest building in Key Biscayne at 27 floors, Oceana, the newest development, built where the old Sonesta Hotel once stood, and the Key Colony, which consists of four buildings: Botanica, Emerald Bay, Oceansound, and Tidemark.
Crandon Park to the north includes a Tennis Center, which is the site of the Miami Open tennis tournament. Watersports, golf, and fishing are also popular activities for those wishing to take advantage of the island’s natural beauty and wildlife. Other attractions include Bill Baggs Cape Florida State Park, home to the Cape Florida Lighthouse, Crandon Beach, Beach Park, Village Green Park, and the Nixon Beach Sandbar. Virginia Key is also accessible via the causeway and features the Miami Seaquarium and the Marine Invertebrate Museum.
The restaurant and dining scene in Key Biscayne offers a variety of cuisines and price points and reflects the local population and environment. For fine dining, our brokers recommend Costa Med, the Rusty Pelican, and Puntino Key Biscayne. Moderately priced options include Milanezza Key Biscayne, Kebo, and Tutto Pizza and Pasta. Favorite lunch spots include La Boulangerie, Dune Burgers on the Beach, Cantina Beach, El Gran Inka, and Origins Asian Bistro. Finally, for quick, cheap eats, our brokers suggest Oasis Cafe at Key Biscayne, the Donut Gallery Diner, Patagonia Nahuen Argentine Gourmet, and the Oasis Sandwich Shop, best known for its Cubans and Medianoches.
Key Biscayne | Neighborhood History
The northern two-thirds of the island on which the Village of Key Biscayne now sits was formerly home to the largest coconut plantation in operation in the United States, owned by the Matheson family. In 1940, the Matheson family donated over 800 acres of their land to Dade County for use as a park (Crandon Park), in exchange for a commitment from the county to build a causeway to the island. The Rickenbacker Causeway, whose construction in 1947 made Key Biscayne an attractive site for residential development. The Matheson family sold off the rest of their land to developers, and by 1951, Mackle Construction Company was selling new homes on the island. A U.S. Post Office branch was built, followed by a Community Church, and then the Key Biscayne Elementary School in 1952.
In 1969, Richard Nixon purchased his first of three waterfront homes on the island, starting a complex that would eventually become known as the “Florida White House,” and where he would spend more and more time as the Watergate investigation loomed over his presidency.
In 1991, residents of the area voted to incorporate as a new municipality, becoming the Village of Key Biscayne, one of the first new cities in Miami-Dade County in over 50 years. When Hurricane Andrew hit in 1992, Bill Baggs Park bore the brunt of the storm, which actually aided greatly in the town’s efforts to eradicate non-native plant life in the park.
In 2004, Key Biscayne completed construction of a civic center, including fire, police, and administrative centers, as well as a recreation center with multi-use courts, an outdoor pool, and a renowned musical theater program.
Getting Around Key Biscayne
Key Biscayne is served by Miami-Dade Transit, with Metrobus service throughout the island, and access to the Metrorail at Vizcaya Station. It is also served by the Miami Metromover and is connected to mainland Miami by the Rickenbacker Causeway. Walkscore ranks Key Biscayne as very walkable, and its small area means that a wide array of attractions and services can be easily accessed from anywhere in the village.