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Blackstone Group signed a long-term lease in downtown Miami for its new technology unit, consolidating its planned migration and expansion to the Sunshine State. The New York-based private equity giant announced in October that it considering opening an office in downtown Miami with approximately 200 new employees. They will lease 41,000 square feet at 2 MiamiCentral Office building at 700 NW First Ave, according to a press release. The exact terms of the lease agreement were not disclosed.

One key factor that appealed to Blackstone for the lease is the Brightline’s station at MiamiCentral, which connects to Fort Lauderdale and West Palm Beach. The new office location in Downtown is also near the Metromover and Metrorail.

Blackstone is joining the expressive movement of many finance and tech corporations moving to South Florida in search of a more business-friendly environment. Florida’s lack of state income tax has long made it an attractive option for New York-based firms. Billionaires Carl Icahn and Barry Sternlicht already relocated their companies’ operations and headquarters to Florida, and more companies and big firms are considering joining them.

Read more at THE REAL DEAL:

Blackstone Group signed a long-term lease in downtown Miami
Office Building Free Image from Pixabay
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