News Summary
Data security company Varonis has announced its move from New York City to Miami, securing 17,900 square feet in the 801 Brickell building. The relocation aims to enhance its business operations and attract new talent. Scheduled for the third quarter of 2024, this transition marks a significant chapter for both Varonis and the burgeoning corporate landscape in Miami’s Brickell Financial District, fueled by a favorable business climate and a growing community of tech firms.
Miami Welcomes Varonis: Data Security Company Moves Headquarters
In a move that’s sure to shake things up in the Sunshine State, data security company Varonis has officially announced its relocation from the bustling streets of New York City to the vibrant and growing Miami market. Known for its advanced software solutions that help businesses keep their data safe, Varonis is setting its sights on a brand-new home in the Brickell Financial District, which is quickly becoming a hotspot for several major companies looking to plant their flags in South Florida.
Exciting New Space
Varonis has secured a whopping 17,900 square feet of office space on the entire 11th floor of the towering 801 Brickell, a stunning 28-story office building that’s currently under construction. While teams are working to build out the space, you can already feel the buzz in the air as Miami prepares to welcome its newest corporate resident. Even though the website still indicates that the headquarters is located on the eighth floor of the building, the migration is all part of the plan for a fresh start in a more vibrant locale.
Timeline of the Move
According to a filing with the Securities and Exchange Commission on February 6, Varonis is eyeing the first quarter of the year (between January 1 and March 31) for the official move to Miami. But don’t get too excited just yet; the actual relocation to the coveted 11th floor won’t happen until the third quarter of 2024. So, it looks like there’s still a bit of waiting for the big unveiling of their new space.
A Look Back: Varonis’ Journey
Founded in 2004, Varonis has grown substantially and now boasts about 2,400 employees worldwide. Before receiving its glowing Miami invitation, the company called the 28th floor of 1250 Broadway in New York City its home, and it still has a presence in 12 other offices located across the United States, Europe, Israel, and Australia. Their advanced software is pivotal in identifying, fixing, and alerting clients about data security issues, whether data is stuffed in the cloud, in SaaS applications, or in a hybrid environment. The company’s solutions are becoming increasingly crucial as businesses navigate the ever-complicated landscape of data safety.
Why Miami?
While Varonis has not publicly revealed the exact reasons for its decision to jump ship from New York to Miami, it’s clear that the pandemic has spurred various companies to relocate their headquarters to South Florida. Reasons often include attracting new talent, securing clients, and embracing the favorable business climate and lifestyle that Miami has to offer. In recent times, the area has witnessed an influx of high-income households, and many firms are seizing the opportunity to establish bases in bustling districts like Brickell and downtown West Palm Beach.
A Growing Community in Brickell
Varonis is not alone in its new venture. The 801 Brickell district continues to draw attention from several companies, all keen to snag office space in this renovated gem that underwent a stunning $30 million refurbishment back in 2020. The recent sale of the building for $250 million marks another significant chapter in its story, as new owners Monarch Alternative Capital and Tourmaline Capital Partners take charge.
What’s Next for Varonis?
As 2024 inches closer, excitement continues to build around Varonis’ upcoming move. As of now, asking rents for office spaces within 801 Brickell have climbed to around $94.89 per square foot, reflecting the increasing demand for office space in this dynamic part of Miami. With Clay Sidner and Jeremy Hakala representing Varonis during lease negotiations and the stellar team of Stephen Rutchik and Tom Farmer representing the landlords, the move is shaping up to be a notable highlight for Miami’s growing corporate landscape.
So, as Varonis gears up for this exciting transition, South Florida is ready to embrace yet another tech powerhouse. Stay tuned, because 2024 is going to be a pivotal year for this data security frontrunner!
Deeper Dive: News & Info About This Topic
- PR Newswire
- Wikipedia: Miami
- Forbes
- Google Search: Varonis data security
- Business Insider
- Encyclopedia Britannica: Data Security
