Vacancies in the Miami retail market first began falling in 2011 and it seems as they will continue along the same trend. According to reports from Marcus & Millichap they project that the vacancies could fall even more due to the increase in tenant demand and increase in employment. If so the result would be a drop to 6.2 percent, the lowest year-end level to be seen in four years.B The firm is also projecting that asking rent will increase to $23.65 per square foot with effective rents increasing 1.1 percent toB $20.08.
If you are interested in investing in the Miami retail vacancies contactB the leading provider ofB South FloridaB commercial real estate servicesB and specialist inB Miami tenant representation,B Morris Southeast Group, at 866-930-1426.
Source: The Real Deal
Tags: commercial real estate, Commercial Real Estate Trends, miami commercial real estate, South Florida commercial real estate, South Florida commercial real estate services
