Biotech, Trading Firms Lease Brickell, Coral Gables Space
MoonLake opens a 13,500-square-foot Brickell headquarters while Sucden moves its Latin America base to Coral Gables.
Updated on Nov. 9, 2026 in Remote Work
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Miami-area office tenants are on the move: biopharma company MoonLake Immunotherapeutics leased 13,500 square feet at Brickell Key Centre II, while trading firm Sucden Americas is relocating its Latin America headquarters from Brickell to Coral Gables. The moves show companies finding room for growth in Miami's office market.
Why it matters
For Miami, the deals show biotech and financial firms putting down roots in the 305 even as Brickell rents climb, with some companies pushed to Coral Gables for larger space at lower rates. Whether this is a lasting shift in where office jobs cluster remains to be seen.
MoonLake's 13,500-square-foot Brickell lease and Sucden's move from 6,400 to 7,700 square feet in Coral Gables show firms getting more space. Coral Gables' $68.74 per square foot asking rate compares with $88.28 in Brickell, though the source does not say how many other tenants are making similar moves.
The players
MoonLake Immunotherapeutics
Zug-based biopharmaceutical company leasing 13,500 square feet at Brickell Key Centre II in Miami.
Sucden Americas
Trading firm relocating its Latin America headquarters from Brickell to 255 Alhambra Circle in Coral Gables.
Galderma
Company that leased about 19,000 square feet at 801 Brickell Avenue for its U.S. headquarters last year.
The details
MoonLake Immunotherapeutics, a Zug-based biopharmaceutical company focused on nanobody therapies for inflammatory skin and joint diseases, leased about 13,500 square feet at 601 Brickell Key Drive under an roughly 11-year term, disclosed in a Securities and Exchange Commission filing. The company has about 150 employees overall and plans roughly 75 staff in Miami, with an opening expected in the first quarter. Sucden Americas, the Paris-based firm's U.S. arm, is leaving its 701 Brickell Avenue space, where it has been since 1994, for 7,700 square feet at 255 Alhambra Circle in Coral Gables under a 10-year term, becoming its Latin America headquarters. About 50 Sucden staff will move, and the company expects to finish by next summer.
Timeline
Last year: Galderma leased about 19,000 square feet at 801 Brickell Avenue for its U.S. headquarters.
2023: Terranova, Lndmrk and Torose paid $54.4 million for 255 Alhambra Circle.
August: Liz Gutierrez was named U.S. president of MoonLake.
Third quarter: Coral Gables' average asking office rate reached $68.74 per square foot.
First quarter: MoonLake expects to open its Miami headquarters.
Beyond the 305
Galderma's roughly 19,000-square-foot Brickell Avenue headquarters lease last year set a recent marker for corporate demand on the corridor. The MoonLake and Sucden deals extend that pattern, with Sucden's move to Coral Gables showing the trend spreading to neighboring submarkets.
If you work in Brickell or Coral Gables, expect more biotech and trading jobs in those offices as these companies open next year. Commuters and renters should watch whether Brickell's asking rents keep pushing firms toward Coral Gables.
The takeaway
Brickell is still drawing new corporate tenants, but cost pressure is sending some firms to Coral Gables for more room. Watch the first-quarter opening of MoonLake's Brickell headquarters and Sucden's move next summer to see whether the trend holds.
What happens next
MoonLake expects to open its Miami headquarters in the first quarter, and Sucden is slated to complete its move to Coral Gables by next summer.
Further reading
For more on how office space and work arrangements are shifting across the county, see Remote Work.
Source note: This article includes information reported by The Real Deal New York.
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