Peter Thiel has set a new ceiling for Miami office rents. The billionaire venture capitalist, a co-founder of PayPal and Palantir and an early backer of Facebook, has signed a lease at about $250 (£188) per square foot at a tower in the city's Brickell financial district, a rate property specialists say is the highest the neighbourhood has recorded. His family office will take the space.
The number lands harder in context. Before the pandemic, top-grade Brickell offices leased for roughly $40 to $60 (£30 to £45) per square foot, according to Joe DaGrosa, founder and chair of DaGrosa Capital Partners, who spoke to Fox News Digital. Thiel's rate now rivals prime space in Manhattan and San Francisco.
