International Media Buying and Ad Tech Advisory Criterion Global Expands Miami Operations With Move to Coconut Grove
International media buying firm, Criterion Global, announces the expansion of its offices to the penthouse floor of Grove Forest Plaza in Miami’s Coconut Grove.
Criterion Global provides digital media buying, and related martech consulting services for direct-to-consumer ecommerce and CPG brands, as well as clients in the travel and hospitality, and banking sectors globally. The firm’s Miami headquarters has historically led media strategy for clients across Latin America, where global ad spending data show the world’s greatest regional growth in digital media investment.
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“This is the perfect time to expand in Miami, our home base market for over a decade, both with this new space and additional hiring planned for the months ahead”
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 and Related Group, opening its 105,000 sq. ft Tigertail St. offices in spring, 2021.
Quartz ranks Miami third nationally in growth in commercial office rents, and CBRE cites a 27% increase in South Florida office rents aided by tech talent immigration. Demand for area commercial space is also accelerating due to Miami Mayor Francis Suarez’s #MoveToMiami , #MiamiTech and #CafecitoTalk” campaigns encouraging relocation of tech,and venture capital firms to Miami.
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“This is the perfect time to expand in Miami, our home base market for over a decade, both with this new space and additional hiring planned for the months ahead,” said co-founding Principal Katherine Cartwright.
NAI Miami represented Grove Forest Plaza in the deal, and London Foster Criterion Global. While financial terms of the deal were not disclosed, despite COVID-19 and increased working from home, growth in Coconut Grove commercial costs per square foot mirror the 80% rise in Coconut Grove residential transactions due to commercial office supply scarcity and Coconut Grove’s desirability.
Grove Forest Plaza is best known for blending 1986 glass and concrete architecture with historic coral rock landmark “Gifford House,” a 1902 converted grapefruit warehouse owned by conservationist Dr. John Clayton Gifford. Previously, Criterion Global’s Miami headquarters were on Miami Beach’s Lincoln Road, most recently at Euro-American’s 407 Lincoln Road, the historic 1956 modernist office tower known for its 12-story exterior clock display, South Beach views and mid-century lobby mosaics.
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