Billionaire investor Peter Thiel leased office space in Miami's Brickell neighborhood at $250 per square foot for his family office, according to a report published August 2. Mohamed Mansour of Man Capital signed a family office lease in Bay Harbor Islands, the report said.

Family offices and other financial-service tenants accounted for 15 percent of new leasing activity in Miami during the second quarter of 2026, Blanca Commercial Real Estate said. The brokerage firm attributed the activity to financial-service expansions in the city.

The $250-per-square-foot lease rate that Thiel's family office agreed to pay reflects pricing in one of Miami's central business districts. Brickell has drawn asset managers, hedge funds and family offices in recent years as firms have relocated operations to Florida.

Man Capital's lease in Bay Harbor Islands, a town north of Miami Beach, adds to a string of family office arrivals in South Florida. The region has attracted ultra-wealthy families seeking lower tax rates and a growing community of private capital allocators.

The second-quarter leasing figure from Blanca Commercial Real Estate covers the three months ended June 30, 2026. Financial-service tenants include not only family offices but also banks, wealth managers and investment firms, the brokerage said.

Miami's office market has seen rents climb as demand from relocating firms has outpaced new construction in some submarkets. Brickell in particular has posted some of the highest lease rates in the state, driven by tenants willing to pay premiums for proximity to financial peers.

Family offices typically lease smaller footprints than institutional asset managers, often occupying a single floor or partial floor. The tenants prioritize privacy and tend to favor buildings with high-end finishes and direct elevator access.