International Media Buying Firm Expands Miami Market Presence with Move to Coconut Grove Submitted by: Criterion Global | International Media Buying
Miami, FL (OPENPRESS) International media buying firm, Criterion Global, announces the expansion of its offices to the penthouse floor of Grove Forest Plaza in Coconut Grove.
The advertising agency, with additional offices in New York and Singapore, joins other Coconut Grove-based firms including private equity group Boyne Capital, Sony Music Latin America, Alex Rodriguez's "A-Rod Corp," and Related Group, scheduled to open its 100,000 sq. ft Tigertail St. offices in spring, 2021.
Criterion Global provides digital media buying, and related martech and adtech consulting services for DTC (direct-to-consumer) ecommerce and CPG brands, as well as clients in the travel and hospitality, and banking sectors globally. The expansion comes as CBRE reports cite immigration of tech talent as a major factor contributing to a 27% increase in commercial real estate costs in South Florida1.
Grove Forest Plaza was represented by NAI Miami in the deal; Criterion Global was represented by London Foster. While financial terms of the deal were not disclosed, costs per square foot in Coconut Grove commercial real estate have grown steadily, despite the global trend of working from home due to COVID-19, in keeping with an 80% rise in Coconut Grove pending residential sales transactions2, driven by a scarcity of commercial office supply and desirability of the area. Demand for area commercial space is also accelerating due to Miami Mayor Francis Suarez's concerted "#miamitech #cafecitotalk" campaign courting tech,venture capital, and professional services firms to relocate to Miami from San Francisco, New York, and other markets.
Grove Forest Plaza is best known for blending 1986 glass and concrete architecture with the historic coral rock landmark "Gifford House," a 1902 converted grapefruit warehouse which housed the offices of Florida conservationist Dr. John Clayton Gifford. Previously, Criterion Global's Miami offices were located on Lincoln Road in Miami Beach, most recently at Euro-American's 407 Lincoln Road, the historic 1956 modernist office tower on Lincoln Road known for its exterior clock display and mid-century lobby mosaics.
Contact Criterion Global
Amy McKeever, firstname.lastname@example.org