Why Entrepreneurs Like Shark Tank's Daymond John Are Driving Miami's Flexible Office Boom

The transition into fall typically brings cooler temperatures and a surge in tourism to Miami. However, many of these seasonal visitors have chosen to make Miami their home in recent years, opting out of some larger cities’ cooler winters and taxes.

This influx of new residents, like Citadel's Ken Griffin, is fueling the vision of Miami becoming a world-class business destination, and the local commercial real estate market is adjusting to accommodate this growth.

One of the players expanding in Miami is Mindspace, a coworking leader that has recently opened two new locations: Downtown Miami and Wynwood.

The Wynwood location is now home to Shark Tank entrepreneur Daymond John, who seeks a more productive and happier work environment for his team to use as a launchpad for multiple pursuits. His decision to set up shop at Mindspace aligns with a broader trend: businesses increasingly need flexible, scalable workspaces.

"JLL published a report projecting flexible workspaces would make up one-third of CRE portfolios by 2030," said Mark Goldfinger, Mindspace's general manager and head of North America. "Demand for this solution is booming, particularly in cities like Miami, where companies want the flexibility to grow. That's where Mindspace is stepping up."

Mindspace boasts an 85%-90% occupancy rate across its portfolio of over 40 boutique spaces in 20 major cities. These locations offer services from shared and private offices to on-demand meeting rooms and customizable event spaces, which attract clients like Samsung, Spotify, Microsoft, Techstars and Barclays. Having previously led at WeWork, Goldfinger adds that clients prioritize agility over long-term office leases in today’s uncertain economic climate.

"Larger firms, post-COVID, are trying to cut costs," Goldfinger said, noting his role is to strengthen Mindspace's presence in emerging markets like Miami. "They don't need 75,000 square feet of office space when employees only come in 50%-75% of the time, and people are alternating daily. Suddenly, they have all this unused space, a huge line item on their P&L."

Companies like Daymond John's are turning to Mindspace to solve this issue and allow employees to come in as needed while maintaining the social and professional connections they missed during the pandemic. With amenities such as cafes, gyms, and rooftop workspaces, Mindspace also enables workers to transition seamlessly between focused tasks and personal well-being, boosting productivity.

Goldfinger reports the company is closing out its strongest quarter to date, which is remarkable given that the summer is traditionally slow in the coworking industry. 

"I think the hybrid model is here to stay," Goldfinger remarked. "COVID accelerated the shift to remote work, but it also showed us that people don't want to be stuck at home. They crave balance — having a morning routine, going to the office, and being surrounded by a culture. With a baby at home, I'm grateful for the chance to step out and focus at work while having the flexibility to come and go."

Goldfinger sees Mindspace's boutique approach as allowing the company to remain nimble in a fluctuating economy.

"While Miami's real estate boom continues with new developments, many firms require the flexibility to expand and contract with the times," Goldfinger concluded. "This is where Mindspace truly shines."

Read Next:
• Slide Over Mark Cuban, There’s A New Shark In The Pool: Could This Billionaire Be His Replacement On ‘Shark Tank’?

Photo: Miami skyline, courtesy of Benzinga