Two Florida hotspots are the top cities for office investing in 2023, according to a new Crexi analysis.

Miami tops the list with its "robust economy, pro-business government, fantastic quality of life, and ideal geographic location," Crexi analysts note, with an employment rate that's ticked up 3.2% and kept office demand "solid and steady." The city has just under 40 million square feet of inventory and overall asking rents of $47.65 per year. In addition, 3 million square feet of new leases have been signed year-to-date. On Crexi, average asking prices for Miami offices have jumped by 10.7% so far this year, while average occupancy rates have climbed almost 10% compared to 2021 absorption.

West Palm Beach follows behind with 1.5 million square feet of new leases signed this year and vacancy below 12%. Asking rents are at $42.84 psf and and just 613,000 sf of space is currently under construction. On Crexi, the median sold price per square foot for West Palm Beach offices this year-to-date was $275, compared to a median of $249 per square foot in 2021.