A new Miami Beach office building backed by ex-Google Chief Executive Officer Eric Schmidt will seek some of the highest rents ever seen in that market to cater to the growing number of hedge funds and finance firms expanding in the region.

New renderings have surfaced for The Fifth Miami Beach, a new 5-story Class A+ office building scheduled to start construction soon at 411 Michigan Avenue in the South of Fifth neighborhood of Miami Beach.

A quick cruise across the MacArthur Causeway from Downtown Miami lands you on 5th Street in South Beach, where Spanish architect Alberto Campo Baeza’s first commercial commission in the United States will soon be built.

Developers Sumaida + Khurana and Bizzi & Partners, backed by former Google CEO Eric Schmidt, are planning to develop the first new office building in the posh South of Fifth neighborhood of Miami Beach in over 15 years, seeking asking rents north of $170 per SF.

Ex-Google CEO Eric Schmidt and his New York-based partners are ready to start courting high-profile, deep-pocketed tenants for a planned office project in Miami Beach’s South of Fifth neighborhood.

Sumaida + Khurana and Bizzi & Partners, two internationally recognized real estate development firms, have received approval from the City of Miami Beach to proceed with the construction of a new Class A+ office building designed by renowned Spanish master architect Alberto Campo Baeza.

Developers Sumaida + Khurana and Bizzi & Partners can move forward with their Miami Beach office project after receiving the green light from the city’s historic preservation board.

Although Alberto Campo Baeza has taken on a modest number of North American commissions in the recent past, a just-green-lit office building in Miami Beach will mark the highly decorated Spanish architect’s first-ever commercial project in the United States.

Spanish architect Alberto Campo Baeza has unveiled his first commercial project to be built in the USA – a Miami office building for developers Bizzi & Partners and Sumaida + Khurana.

Sumaida + Khurana and Bizzi & Partners are planning a five-story building with 56,177 square feet at 944 5th Street and 411 Michigan Avenue in the city’s South of Fifth neighborhood, according to a press release.

Spanish architect Alberto Campo Baeza designed this office building planned at 944 5th Street, Miami Beach.