Venture Capital Titan a16z Signs Office Lease in Miami Beach
In another boost for South Florida’s tech dreams, prominent venture capital firm Andreessen Horowitz said Thursday that it has opened an office in Miami Beach.
Andreessen Horowitz, a Silicon Valley stalwart also known as a16z, is leasing a floor at Barry Sternlicht’s building at 2340 Collins Avenue. The firm signed a five-year lease for 8,000 square feet, the city of Miami Beach said in a news release.
In an announcement explaining its new approach to office space, Andreessen Horowitz said it’s keeping its offices in Menlo Park, California, and San Francisco while also opening locations in Miami Beach, New York and Santa Monica, California.
“Our headquarters will be in the cloud and we will continue to create physical offices globally where needed to support our teams and partners,” Andreessen Horowitz co-founder Ben Horowitz wrote on the company’s website.
Andreessen Horowitz has become a player in the world of cryptocurrency and digital assets, and its new South Florida office is near the Miami Beach Convention Center, site of the annual Bitcoin conference.
In a post on Twitter, Miami Mayor Francis Suarez called the announcement “enormous news.”
Andreessen Horowitz manages $33 billion in assets. The company called its new real estate strategy part of a hybrid approach that combines remote work with physical offices.
“It turns out that running a technology company remotely works pretty darned well,” Horowitz wrote. “It’s not perfect, but mitigating the cultural issues associated with remote work turns out to be easier than mitigating the employee satisfaction issues associated with forcing everyone into the office five days/week.”
Brandon Charnas, Adam Henick and Alec Kirschner from Current Real Estate Advisors represented a16z in the lease negotiations.
Jeff Ostrowski can be reached at email@example.com.