Robert Orban, Executive Managing Principal – Miami, Cresa

Invest: spoke with Robert Orban, executive managing principal for Miami at commercial real estate company Cresa, about tenant-only representation, how fast-changing pricing is reshaping negotiations, and why occupiers need better information to manage office and industrial real estate decisions. “Occupiers of office and industrial space, more than any other time, need professional advice, guidance and advocacy because the market is changing dramatically,” Orban said.

How does Cresa’s tenant advocacy approach influence the way you deliver value for clients in South Florida?

We provide unbiased consultation because we do not have a financial stake in the buildings our clients might occupy. We are not partnered with developers, and we do not represent landlords, so we are agnostic about where a client ends up. Our job is to find the most appropriate and  cost-effective occupancy structure and lease terms that meet their needs.

That clarity matters in a market like Miami, where assumptions get expensive. We maintain a disciplined process, evaluate options consistently, and negotiate based on facts rather than preferences or inertia.

How has the Miami office performed recently in terms of deal volume and transaction types, and what sectors are driving the most activity right now?

We continue to see strong activity, particularly in finance and technology. There is still an influx of firms from California, Illinois, and the Northeast, along with international and investment-related businesses. Demand for a Brickell Avenue address continues, although it is not as intense as it was in 2022.

Transactional volume remains solid across Miami and West Palm Beach, with somewhat less activity in Broward County by comparison. What has changed is the economics. In many instances, rents over the past five years have doubled on Brickell Avenue and have likewise risen sharply in Coral Gables, which is forcing more occupiers to reconsider long-held assumptions about where they can afford to be. Formerly affordable Class A suburban product in the Airport West market now exceeds $60 per square foot on an asking basis.

What are you seeing in pricing, renewals, and space decisions, especially among long-tenured tenants in core submarkets?

Many tenants have been on Brickell Avenue for decades and historically could renew with modest increases, plus improvements that refreshed a suite. Now, some clients are seeing rent effectively double, such as moving from $52 per square foot to over $100 per square foot. That kind of jump is not sustainable for many businesses and is pushing them to evaluate alternatives.

We see spillover into other submarkets, including Doral, the airport area, and Coral Gables, and we continue to see resizing. If an organization signed a lease pre-COVID, it may not need the same footprint today, especially with hybrid schedules still common in many sectors.

What challenges and opportunities do you see for occupiers in Miami’s commercial real estate market over the next year or two?

Cost is the headline challenge, and it shows up in multiple ways: office rent, residential affordability, and the practical impact of traffic on commutes and attendance. Miami may be at an inflection point where some relocations or expansions consider West Palm Beach or Fort Lauderdale more seriously because the tradeoffs feel more manageable, even though costs have risen there as well.

The opportunity is that a well-run process can still create leverage in negotiations. Occupiers who understand total occupancy cost, negotiate aggressively for concessions and protections, and keep options open can make smart decisions even in a high-cost market.

How do you incorporate market research, technology tools, and data analytics into strategic planning for clients?

We use tools that connect real estate decisions to workforce realities. That includes mapping where employees live and modeling how a move could affect commute times. We also use data to understand talent pools by role, heat maps that show where key employee groups tend to live, depending on what the client needs.

The goal is to turn data into choices. It should reduce uncertainty, clarify tradeoffs, and strengthen negotiating leverage.

What leadership or cultural priorities do you emphasize within the Miami office to foster teamwork, talent development, and client service?

We are in the office together every day, and the culture is extraordinarily collaborative. Across our Miami and Boca Raton offices, we work closely, share ideas quickly, and stay focused on client outcomes. That consistency helps us move faster and keep client service high, especially when markets are shifting dramatically.

What differentiates Cresa’s integrated real estate solutions from other advisory firms?

Commercial brokerage can look similar across firms, but our differentiator is structural: we only sit on one side of the table. We only represent occupiers, not landlords, which helps clients avoid conflicts that can exist when a firm represents both sides in the same market. Our incentives and our advice are fully aligned with the tenant’s interests.

How do you help clients plan for broader economic trends when developing real estate strategy?

We focus on what is actionable now. Often, a client will say privately that they like their space and want to stay put, but they want better economic terms. In those cases, we explain that we need to engage the market as if we are willing to move. Testing alternatives, gathering competitive proposals, and creating credible leverage will prompt a landlord to sharpen the pencil on terms. For landlords, losing a tenant is generally expensive, and we endeavor to push the lion’s share of the savings a landlord enjoys from a tenant staying put to their side of the transaction.

How does your vision for the Miami office align with Cresa’s broader mission of occupier-centric advisory services?

We align completely. The approach is consistent across the firm: understand client needs, stay disciplined on process, and find the best solution for the occupier. No stone left unturned and no surprises.

Are you seeing client needs evolving in specific ways?

Clients tend to be prioritizing higher-quality, highly amenitized office space. To encourage people to come in, employers want amenities that support daily life and collaboration, including fitness, meeting space, and food options. Many occupiers are also balancing that experience with the reality that space is more expensive, so footprint and flexibility matter more than they used to.

Looking ahead, what are you most excited about in terms of growth opportunities and market expansion for Cresa in Miami and South Florida?

Miami has attracted a myriad of new users, including international law firms, investment groups, and technology firms that were not as present a few years ago. That momentum creates opportunity, but it also brings challenges, including higher costs and infrastructure strain.

For occupiers, the environment is more volatile than it used to be. Occupiers of office and industrial space, more than at any other time, need professional advice and guidance because the market is disrupted. Rental rates and availability can shift quickly, sublease inventory can create sudden opportunities, and staying current as to market dynamics is difficult while running a business. Our role is to help clients track those changes, evaluate options objectively, and negotiate terms that fit their operations.

In office negotiations, that often means modeling multiple scenarios, including renewal versus relocation, right-sizing, and different lease terms. Even small differences in concessions, escalation language, and expansion or contraction rights can change the long-run outcome, so we try to bring structure to a process that can otherwise become emotional or rushed.

We are also seeing more interest in flexibility. Clients want to avoid getting locked into a footprint that no longer matches how they work, so they are asking more questions about how buildings support conferencing, privacy, and collaboration, and how the lease can protect them if headcount changes.

On the sublease side, we have seen a notable increase in available space, including some larger blocks that were not anticipated. That affects pricing and leverage in specific buildings and submarkets, and it can create opportunities for occupiers that are prepared to move quickly. The key is understanding which specific properties have true negotiating room and which still do not, because the headline story is not the same everywhere.