TikTok Parent ByteDance Seeking Office in Miami
By Julia Echikson December 15, 2021 11:54 am
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ByteDance, the parent company of social media wunderkind TikTok, is looking to open a Miami office, Commercial Observer has learned.
The social media giant is actively searching for an office in Miami and has its sights on Wynwood, according to a source familiar with the company’s plans. “They’ll likely be in a space by next year,” the source said.
The company’s desired footprint and the buildings the firm is negotiating for remain unclear. Representatives for ByteDance did not respond to requests for comment.
As video-sharing app TikTok became a global phenomenon in 2020, ByteDance has expanded its office presence in the U.S. At the height of the pandemic, TikTok signed one of New York City’s largest office leases in 2020, taking 232,000 square feet at the Durst Organization’s One Five One tower. Earlier this year in D.C., TikTok reportedly inked a 50,000-square-foot deal near Union Market.
ByteDance, headquartered in China, has two other U.S. offices, in Los Angeles and Mountain View, Calif.
The firm’s arrival in Miami would add cachet to a city that’s emerging as the “Silicon Valley of the South,” thanks to lobbying from its mayor, Francis Suarez, and other boosters, such as Softbank. Miami saw the largest increase of new tech workers during the pandemic’s first year, according to data compiled by LinkedIn.
Within the Magic City, Wynwood has become a popular destination for the tech industry. Venture capital heavyweights Atomic and Founders Fund opened offices this year at the Wynwood Annex, developed by the Related Group and East End Capital. The neighborhood, first known for its bright-colored murals, hosted the Bitcoin 2021 conference in June, attracting thousands of cryptocurrency enthusiasts.
Julia Echikson can be reached at Jechikson@commercialobserver.com.
